Q21 of 52 Page 112

Let us calculate in how many years will ₹40000 amount to ₹46656 at the rate of 8% compound interest per annum.

Let it be in ‘n’ years ₹40000 in compound interest at the rate of 8% per annum will amount to ₹46656.


∴ Amount for n years


By the condition,





∴ n = 2


∴ In the rate of compound interest if 8% per annum ₹40000 will amount to ₹46656 in 2 years.


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