b. In what time will Rs 10000 will yield a compound interest of Rs 2769​

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b. In what time will Rs 10000 will yield a compound interest of Rs 2769​

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Bình An 4 years 2021-08-27T12:14:02+00:00 1 Answers 2 views 0

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  1. Helga
    0
    2021-08-27T12:15:21+00:00
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    Answer:

    after 8years

    Step-by-step explanation:

    Complete question;

    In what time will Rs 10000 will yield a compound interest of Rs 2769​ at 3% per annum

    Using the compound interest formula;

    A =P(1+r)^n

    Given

    P = Rs10000

    A = 10000+2769

    A = 12769

    rate = 3% = 0.03

    Substitute and get the time t

    12769 = 10000(1+0.03)^n

    12769/10000 = 1.03^n

    1.2769 = 1.03^n

    log 1.2769 = nlog1.03

    n =  log 1.2769/log 1.03

    n = 0.1062/0.01283

    n = 8.27

    Hence the time is approximately after 8years

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