Question

to how much time will Rs 6000 amount to Rs 6945.75 at 5% per annum compounded interest​

Answer 1

Answer:

A = P(1 + \frac{R}{100})^{T}

= 6000(1 + \frac{5}{100})^{2}

= 6000\times \frac{21}{20}\times \frac{21}{20} = 6615\ Rs.