Q24 of 89 Page 14

In how much time will a sum of Rs. 1600 amount to Rs. 1852.20 at 5% per annum compound interest?

Given,


Principal = Rs.1600


Amount = Rs.1852.20


Rate = 5 % per annum


Let time = T years


So,


A =


=


=


= T = 3 years


Hence,


Time = 3 years


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