Maths-

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Easy

Question

# In what period will Rs 12,000 yields Rs3,972 as compound interest at 10% per annum; if compounded every year.

Hint:

### Use the formula of compound interest to get the number of years.

## The correct answer is: 3 Years

### Complete step by step solution:

We know that compound interest = Total amount - principal amount that is, CI = A - P…(i)

We know that …(ii)

Here, we have T = ? years, P = 12000 and R = 10%

On substituting the known values in (ii), we get

Given that CI = 3972,

On substituting the known values in (i), we get

On adding 12000 on both the sides, we have

Divide on both sides by 12000.

On dividing we have,

T = 3 years.

In 3 years, Rs 12000 yields 3972 as compound interest at 10% per annum if compounded every Year.

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