Question

in how many year will rs 8000 amount to rs 13824 at 20% per annum interest compounded annually? please please help me out​

Answer 1

Answer :-

3 years

step by step explanation:-

Let the time be x

principal = rs 8000

Amount = rs 13824

rate = 20% p.a

A = P(1+r/100)^n

13824 = 8000 ( 1 + 20/100)^n

=> 13824/8000 = (120/100)^n

=> 13824/8000 = (24/20)^n

=> (24/20)³ = (24/20)^n

=> 3 = n

=> n = 3 years