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
Here is the right answer
A = P$1+\frac{R}{100} ^{T}$
13230 = 12000$1+\frac{5}{100} ^{n}$
n = 2 years