A sum of Rs 5000 is invested at a compound interest rate of 20% per annum. After T years, the amount becomes Rs 7200. Find the value of T.

Explanation

​ Information Given: Principal (P) = Rs 5000 Rate (R) = 20% per annum Amount (A) = Rs 7200 Time = T years Concept/Formula Used: T A = P × (1 + ) ​ R 100 ​ Explanation: T 20 7200 = 5000 ×(1 + ) ​ 100 ​ 7200 = 5000 × (1.2)T ​ Dividing both sides by 5000: 7200 / 5000 = (1.2)^T 1.44 =(1.2)T ​ Now, 1.44 = (1.2) × (1.2) = (1.2)² So, T = 2 years www.freshersnow.com