Answer:
after 8years
Step-by-step explanation:
Complete question;
In what time will Rs 10000 will yield a compound interest of Rs 2769 at 3% per annum
Using the compound interest formula;
A =P(1+r)^n
Given
P = Rs10000
A = 10000+2769
A = 12769
rate = 3% = 0.03
Substitute and get the time t
12769 = 10000(1+0.03)^n
12769/10000 = 1.03^n
1.2769 = 1.03^n
log 1.2769 = nlog1.03
n = log 1.2769/log 1.03
n = 0.1062/0.01283
n = 8.27
Hence the time is approximately after 8years
