ICSE Class 10 Answered
P=300 rate 4 mv 7725
Time find
Asked by maa18378 | 06 Mar, 2019, 10:52: AM
Expert Answer
A = p [ 1 + (r/100) ]n
It is assumed rate 4 means , 4% rate of interest per year
300 [ 1 + (4/100) ]n = 7725 or [ 1 + (4/100) ]n = 25.75 or (1.04)n = 25.75
n can be calculated by taking log on both sides ,
n log(1.04) = log(25.75) or n = log(25.75) / log(1.04) ≈ 83 year ( too long period ! )
Answered by Thiyagarajan K | 06 Mar, 2019, 02:38: PM
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