SOLUTION: Amount=Rs8000 Principal=Rs4000 Rate of interest= 6℅. Find the time? Compounded annually

Algebra ->  Absolute-value -> SOLUTION: Amount=Rs8000 Principal=Rs4000 Rate of interest= 6℅. Find the time? Compounded annually      Log On


   

Question 1056509: Amount=Rs8000 Principal=Rs4000 Rate of interest= 6℅. Find the time? Compounded annually
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+A+=+P%2A%28+1+%2B+r%2Fn+%29%5E%28n%2At%29+
+A+=+8000+
+P+=+4000+
+r+=+.06+
+n+=+1+
---------------------------
+8000+=+4000%2A%28+1+%2B+.06%2F1+%29%5E%281%2At%29+
+2+=+1.06%5Et+
+log%282%29+=+t%2A%28+log%28+1.06+%29+%29+
+.30103+=+.02531t+
+t+=+11.8937+ yrs
------------------------------
check:
+2+=+1.06%5Et+
+2+=+1.06%5E11.8937+
+2+=+1.99977+
error due to rounding off
OK