In how many years will Rs 25,000 yield Rs 8,275 as compound interest at 10% per annum compounded annually?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 3
CI = 8275
P = 25000
A = 25000 + 8275 = Rs 33,275
R = 10%
33,275 = 25,000(1 + 10/100)n
1331/1000 = (11/10)n
(11/10)3 = (11/10)n
n = 3