Question

Please help me, I'm super confused right now TwT:

Find the period.
Principal = 9300 rupees
Annual rate of interest = 13%
Total amount = 17,763
Period = _____ years

Answer 1

The Time period of the Amount is 5 years 3 days .

Step-by-step explanation:

Given as :

The principal = p = Rs 9300

The annual rate of interest = r = 13%

The Total amount after t years = A = Rs 17,763

Let The time period = t years

From Compound Interest method

Amount = principal ×

Or, A = p ×

Or, Rs 17,763 = Rs 9300 ×

Or, =

or, 1.91 =

Taking Log both side

1.91 = ( )

or, 0.2810 = t × 1.13

or, 0.2810 = t × 0.0530

∴ t -

I.e t = 5.30 years

So, The time period = t = 5 years 3 days

Hence The Time period of the Amount is 5 years 3 days