Question

What time will I earn and interest of rupees 2050 if I deposited rupees 20000 in a bank that is 5% interest compound annually

Answer 1

Answer:

2 years

Step-by-step explanation:

amount= 20000+2050=22050

22050=20000(1+5/100)^n

1.1025=(1.05)^n

(1.05)^2=(1.05)^n

by comparision

n=2 years