Question

What in time will be Rs 15625 amount to rs 17576 at 4% per annum compound intrest

Answer 1

Answer:

Here P = Rs .15625

A = 17576

R = 4%

Now , P ( 1+ r/100)t = A

= 15625 (1+4/100)t

=17576

=26/25t

=17576/15625

=(26/25)3

By comparing powers t = 3

Hence time is 3 years