Rs. 800 at 5% per annum compound interest will amount to Rs. 882 in?

Let time be t years ∵ 882 = 800( 1 +5/1000) t ⇒ 882/800 = (21/20) t ⇒ (21/20) 2 = (21/20) t ⇒ t =2 ∴ Time = 2years

Question

Accepted Answer

Let time be t years
∵ 882 = 800( 1 +5/1000)^t
⇒ 882/800 = (21/20)^t
⇒ (21/20)² = (21/20)^t
⇒ t =2
∴ Time = 2years

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