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प्रश्न
In what time will a sum of ₹ 48,000 amount to ₹ 55,566 at 5% p.a. compounded annually?
योग
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उत्तर
Given, principal = ₹ 48000
Amount = ₹ 55566
Rate of interest = 5% per annum
Amount = `P(1 + r/100)^t`
∴ `48000(1 + 5/100)^t = 55566`
⇒ `(1 + 1/20)^t = 55566/48000`
⇒ `(21/20)^t = 9261/8000`
⇒ `(21/20)^t = (21/20)^3`
⇒ t = 3
Hence, the required time period is 3 years.
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