Solve this:
Q. (ii) Find the time (in years) in which Rs. 12500 will produce Rs. 3246.40 as compound interest at 8 % per annum, interest compounded annually.

Dear student,

We have,Principal, P = Rs 12500CI = Rs 3246.40Now, Amount, A = P + CI=12500+3246.40= Rs 15746.4Rate, R = 8% p.aLet the time = n yrsNow, A = P1+R100n15746.4=125001+8100n157464125000=1+225n157464125000=2725n3936631250=2725n1968315625=2725n27253=2725nn=3 So, required time = 3 yrs

Regards

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