RRB Junior Engineer Stage 1 Model Papers 9

Question : 14 of 100

Marks: +1, -0

Rekha invested a sum of ₹ 12000 at 5% per annum compound interest. She received an amount of ₹ 13230 after n years. Find n.

Solution:

P = ₹ 12000, Rate = 5 %, Time (n) = ?, Amount = 13230

A=P(1+R/100)^T=13230=12000(1+5/100)^n

=13230/12000=(21/20)^n=1323/1200=(21/20)^n

=441/400=(21/20)^n

(21/20)^2=(21/20)^n

∴ n=2 \years

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