.In how many years will Rs. 800 amount to Rs.882 at 5% per annum compounded annually? 

Asked by jackalamassery | 6th Jan, 2016, 03:20: PM

Expert Answer:

begin mathsize 14px style A m o u n t comma space A equals R s. space 882 P r i n c i p a l comma space P equals R s. space 800 R a t e space o f space I n t e r e s t comma space R equals 5 percent sign L e t space t h e space t i m e space b e space t space y e a r s. N o w comma A equals P open parentheses 1 plus R over 100 close parentheses to the power of t rightwards double arrow 882 equals 800 open parentheses 1 plus 5 over 100 close parentheses to the power of t rightwards double arrow 882 over 800 equals open parentheses 105 over 100 close parentheses to the power of t rightwards double arrow 441 over 400 equals open parentheses 21 over 20 close parentheses to the power of t rightwards double arrow open parentheses 21 over 20 close parentheses squared equals open parentheses 21 over 20 close parentheses to the power of t rightwards double arrow t equals 2 space y e a r s end style

Answered by Rashmi Khot | 6th Jan, 2016, 05:41: PM