Given details are,
Principal = Rs 1600
Amount = Rs 1852.20
Rate = 5% per annum
Let time = T years
By using the formula,
A = P (1 + R/100)n
1852.20 = 1600 (1 + 5/100)T
1852.20 = 1600 (105/100)T
(21/20)T = 1852.20/1600
(21/20)T = 9261/8000
(21/20)T = (21/20)3
So on comparing both the sides, n = T = 3
∴ Time required is 3 years.
Principal (P) = Rs. 1600
Amount (A) = Rs. 1852.20
Rate (R) =5% p.a
Let n be the time
∵A=P(1+R100)n
AP=(1+R100)n
⇒Rs.1852.201600=(1+5100)n
⇒Rs.185220100×1600=(2120)n
⇒Rs.92618000=(2120)n
⇒(2120)3=(2120)n
Comparing, we get
n = 3
∴ Period = 3 years.
How many years will 1600 amount to 1852.20 at 5% per annum when compounded annually?
Detailed Solution
Therefore in 3 years the rupees 1600 amount to rupees 1852.20 at 5% P.A.
How many years will a sum of Rs 1600 1852.20 at 5% per annum compound interest?
∴ Period = 3 years. Q. A sum amounts to Rs.
In what time will Rs 1600 amount to Rs 1800 at 6% per annum simple interest?
So, Time =1.75 years = 1 year and 9 months.
What is the compound interest in on a sum of 12600 for 16 years at 20% per annum if the interest is compounded half yearly nearest to a rupee?
∴ The compound interest incurred is Rs. 4171.