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Taya2010 [7]
4 years ago
4

Find the period.

Mathematics
1 answer:
Viefleur [7K]4 years ago
7 0

Answer:

The period is 2.6 year.

Step-by-step explanation:

Given : Principal P=Rs.2550

Annual rate of interest r=17.5%=0.175

Total amount A=Rs.3888.75

To find : The period ?

Solution :

Applying compound interest formula,

A=P(1+r)^t

Substitute the values given,

3888.75=2550(1+0.175)^t

\frac{3888.75}{2550}=(1.175)^t

1.525=(1.175)^t

Taking log both side,

\log (1.525)=\log (1.175)^t

\log(1.525)=t\log(1.175)

t=\frac{\log(1.525)}{\log(1.175)}

t=2.61

Approximately the period is 2.6 year.

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