Question

The compound interest on Rs. 60000 at 7% per annum is Rs.8694. The period is​

Answer 1

Step-by-step explanation:

Amount = CI + Principal

A= 8694+60,000= 68694 rs

Amount = Principal (1+r/100)^n (n- time)

68694 /60000= (107/100)^n

11449/10000= (107/100)^n

(107/100)²=(107/100)^n

on comparing both side

n=2 , hence the required time interval is of 2 years

MARK IT BRAINLIEST IF IT HELPS......