Question

Rekha invested a sum of Rs.12,000 at 5% p.a. compund interest. She recieved an amount of Rs.13,230 after 'n' years. Find the value of 'n'.

Answer 1

12,000 at 5% for 1st year,
Interest earned = 12000*5/100 = 600
Amount after 1st year = 12,000 + 600 = 12,600

P for second year = 12,600
Interest earned(@ 5%) = 12600*5/100 = 630 Rs.
Amount = 12,600+630 = Rs. 13,230

Hence she received Rs.13,230 after '2' years.
So 'n' = 2
Hope this helps.

Answer 2

answered by kannadiga