₹ 800 at 5 % per annum compound interest amount to ₹ 882 in (In years )

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6.Interest

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₹ $800$ at $5 \%$ per annum compound interest amount to $₹ 882$ in (In $years$)

A

$6$

B

$2$

C

$4$

D

None of these

Solution

(b) Let the time be $t$ years. Then,

$882=800\left(1+\frac{5}{100}\right)^{t} \Rightarrow \frac{882}{800}=\left(\frac{21}{20}\right)^{t}$

$\Rightarrow\left(\frac{21}{20}\right)^{2}=\left(\frac{21}{20}\right)^{t}$

$\Rightarrow t=2$ years.

Standard 13

Quantitative Aptitude

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