In what year, the rate of 5000 rupees will be 665.50 rupees per 10% annual compound interest rate ?
Find 4% annual compound interest and compounds for 20 years in 500 years?
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In what year, the rate of 5000 rupees will be 665.50 rupees per 10% annual compound interest rate ?
Find 4% annual compound interest and compounds for 20 years in 500 years?
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Answered is .
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10342
Answer: 1) Time = 1.31 years
2) Amount = 1.2 × 10¹⁰
Step-by-step explanation:
Since we have given that
Principal amount = RS. 5000
Interest = Rs. 665.50
Rate of compound interest = 10%
As we know the formula for "Compound Interest ":
Hence, it takes 1.31 years to get a compound interest of Rs. 665.50.
If Principal = 5000
Time = 20 years in 500 years
so, Period =
Rate of interest = 4% annual compound interest
So, Rate of interest in 20 years = 80%
So, Amount will be