Question

Venu invested a sum of 80,000 at 5%
compound interest, compounded annually.
Calculate the number of years he invested
for him to earn an interest of 12,610.​

Answer 1

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Answer:

3 years

Step-by-step explanation:

As we know

CI: P(1+R/100)^not

Ci:80000(1+5/100)^3

Ci:92610

92610-80000=12610

Thus it took him 3 years to get anew interest of rs.12610

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Answer 2

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3 years

Step-by-step explanation:

As we know

CI: P(1+R/100)^not

Ci:80000(1+5/100)^3

Ci:92610

92610-80000=12610

Thus it took him 3 years to get anew interest of rs.12610