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Rekha invested a sum of Rs.12000 at 5% per annum compound interest. she received an amount of Rs.13230 after n years. find now

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Rekha invested a sum of Rs.12000 at 5% per annum compound interest. she received an amount of Rs.13230 after n years. find now
1). 2.8 years
2). 3.0 years
3). 2.5 years
4). 2.0 years

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2 answers

0 vote
Answered by on | Votes 0 |
2.0 years is the best suited

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Answered by on | Votes 3 |

Here is the right answer

A = P$1+\frac{R}{100} ^{T}$

13230 = 12000$1+\frac{5}{100} ^{n}$

n = 2 years




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