Question

the interest on a sum 2000 is being compounded anualot at the rate of 4/ per annum. find the period for which the ci is 163.20

Answer 1

Given
P=2000
Ci=163.20
Rate =4 P. A.
Amount =2000+163.60=2163.30

A=p(1+r/100)^t
2163.30=2000(1+4/100)^t
2163.30/2000=(104/100)^t
1.0816=(1.04)^t
T=2 year
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Answer 2

2163.20=2000 (1+4/100)^n
216320/100×1/2000=(26/25)^n
676/625=(26/25)^n
(26/25)^2=(26/25)^n
n=2y
CI=p (1+r/100)^n
A=2000+163.20
=2163.20