in how many years would RS 430000 become RS 497778.75 at 5% p.a compund interest..?
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in how many years would RS 430000 become RS 497778.75 at 5% p.a compund interest..?
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Almost 5 years. Sorry this is not my specialty.
Answer:
3 years
Step-by-step explanation:
using formula;-
future value=R [1+i]^n
497778.75=430000[1+0.05]^n
1.157625=[1.05]^n
taking log on b/s
log(1.157625)=n log(1.05)
n=0.06357/0.02119
n=3 answer