what time will Rs. 3,90,625 amount of 4,56,976at 4% compound interest annually
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In what time will Rs. 390625 amount to Rs. 456976 at 4 per cent compound interest ?
2 years
4 years
3 years
5 years
Correct Option: B
∵ P(1 + r/100)t = A
⇒ 390625(1 + 4/100)t = 456976
⇒ (1 + 4/100)t = 456976/390625 =(26/25)4
⇒ (26/25)t = (26/25)4
⇒ t = 4
∴ The required time is 4 years.
2 years
4 years
3 years
5 years
Correct Option: B
∵ P(1 + r/100)t = A
⇒ 390625(1 + 4/100)t = 456976
⇒ (1 + 4/100)t = 456976/390625 =(26/25)4
⇒ (26/25)t = (26/25)4
⇒ t = 4
∴ The required time is 4 years.
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