# In what time will Rs.8000 amounts to Rs.9261 at 5% per annum ,interest compounded annually

$Principal amount (P) = Rs.8000 \\ Final amount = Rs.9261 \\ Interest rate(r) = 5 \% per \\ Assume time is t \\ Final amount = P(1+\frac{r}{100} )^t \\ 9261 = 8000(1+0.05)^t \\ 1.05^t = \frac{9261}{8000} = 1.157 \\\\ take logarithams on both side \\ t \log 1.05 = \log (1.157) \\ t = \frac{\log 1.157 }{\log 1.05}= 3 years$

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