# In what time will Rs.8000 amounts to Rs.9261 at 5% per annum ,interest compounded annually

2
by tanvigarg21

2014-07-29T11:58:00+05:30

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P = 8000      r = 5% = 0.05    n = unumber of years
9261 = 8000 (1 + 0.05)^n
9261 / 8000  =  1.05 ^n
take logarithms
log 9261 /8000  =  n  log 1.05
n  =  (1/ log 1.05)  log  1.157  years  = 2.99  = 3 years nearly
2014-07-29T12:06:35+05:30

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Certified answers contain reliable, trustworthy information vouched for by a hand-picked team of experts. Brainly has millions of high quality answers, all of them carefully moderated by our most trusted community members, but certified answers are the finest of the finest.
A = P

Where, A= amount, P = Principal, n= no.of times it is compounded (here n=1), r=5% , t=?

Now putting the values,

9261 = 8000

Now comparing both sides,
we get,
t = 3 years (Answer).