A sum of ₹1,25,000 is invested at 12% compound interest per annum. After how many years will it grow to ₹1,75,616?

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Accepted Answer

1. Use the compound interest formula: $A=P(1+r)^n$.

2. Substitute values: $125000(1.12)^n=175616$. So $(1.12)^n=\frac{175616}{125000}=1.404928$.

3. Calculate powers: $(1.12)^2=1.2544$ and $(1.12)^3=1.404928$. Thus $n=3$.

4. So the correct option is **(b)**.

FINAL_ANSWER: b

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Answer

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