Ishita invested a sum of Rs. 12000 at 5% per annum compound interest.

1.	Ishita invested a sum of Rs. 12000 at 5% per annum compound interest. She received an amount of Rs. 13230 after n years. Find the value of n.
Answer» Given, Principal = Rs.12000 Rate = 5% per annum Amount = Rs.13230 Let time = T years So, A \(={P}[({1}+\frac{R}{100})^T]\) \(={12000}[({1}+\frac{5}{100})^T]\) = 13230 \(=(\frac{21}{20})^T\) \(=\frac{13230}{12000}\) \(=\frac{441}{4000}\) \(=(\frac{21}{20})^2\) = T= 2 years Hence , Time = 2 years

Ishita invested a sum of Rs. 12000 at 5% per annum compound interest. She received an amount of Rs. 13230 after n years. Find the value of n.

Answer»

Given,

Principal = Rs.12000

Rate = 5% per annum

Amount = Rs.13230

Let time = T years

So,

A \(={P}[({1}+\frac{R}{100})^T]\)

\(={12000}[({1}+\frac{5}{100})^T]\) = 13230

\(=(\frac{21}{20})^T\) \(=\frac{13230}{12000}\) \(=\frac{441}{4000}\) \(=(\frac{21}{20})^2\)

= T= 2 years

Hence ,

Time = 2 years