If Rs. 800 is invested at a compound interest rate of 5% per annum, after how many years will the amount grow to Rs. 882?

Explanation

Let the time period be t years. Using the compound interest formula: Amount = Principal × (1 + rate/100)^t, we have 882 = 800 × (1 + 5/100)^t. Simplifying, (21/20)^t = 882/800 = 21/20. Therefore, t = 2 years. Hence, the investment will amount to Rs. 882 in 2 years.