Correct Answer - Option 4 : 1 year
Given:
Principal = Rs. 800
Rate of interest = 4% p.a.
Amount = Rs. 832
Formula Used:
Amount = Principal × (1 + rate of interest/100)Time
Calculation:
(832/800)n = (104/100)Time
⇒ (26/25)1 = (26/25)Time
⇒ Time = 1 year
∴ In 1 year Rs. 800 at 4% p.a. compounded annually will amount to Rs. 832.
The correct option is 4 i.e. 1 year
If am = an
Then m = n