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In What Time Will Rs 8,000 Amount to Rs 12,167 at 15% per Annum Compounded Annually? - Mathematics

Sum

In what time will Rs 8,000 amount to Rs 12,167 at 15% per annum compounded annually?

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Solution

P = Rs 8000 ; A = Rs 12167;  r = 15% ; t=? 

`therefore  "A" = "P" (1 + "r"/100)^"n"`

Rs 12,167 = Rs 8,000 `(1 + 15/100)^"n"`

`12167/8000 = (1 + 15/100)^"n"`

`(23)^3/(20)^3 = (23/20)^3`

t = 3

T = 3 years 

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APPEARS IN

Frank ICSE Class 10 Mathematics Part 2
Chapter 1 Compound Interest
Exercise 1.6 | Q 18 | Page 20
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