tals, we werest Deus – In what time will 5120 amount to 7290 at 12 1/2% per annum compounded annually? ​

Question

tals, we werest Deus
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In what time will 5120 amount to 7290 at 12 1/2% per annum compounded annually?
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Acacia 5 years 2021-08-27T08:08:09+00:00 1 Answers 22 views 0

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  1. Vodka
    0
    2021-08-27T08:09:58+00:00
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    Answer:

    The time will be “3 years“.

    Step-by-step explanation:

    The given values are:

    Principle,

    P = 5120

    Amount,

    A = 7290

    Rate,

    r = 12.5

    Time,

    n = ?

    As we know,

    ⇒  A = P[1+\frac{r}{100} ]n

    On substituting the values, we get

    ⇒  7290=5120[1+\frac{12.5}{100} ]n

    On applying cross-multiplication, we get

    ⇒  \frac{7290}{5120}=[1+\frac{125}{100}\times 100 ]n

    ⇒  \frac{9}{8}\times 3=[8+\frac{1}{8} ]n

    ⇒  n = 3 \ years    

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