Question

1) calculate in how many years will Rs 30000 amount to Rs 399300 at the rate of 10% Compound interest per annum.​

Answer 1

Answer:

the time or year is 3years................

Answer 2

Answer:

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Let it be in ‘n’ years ₹300000 in compound interest at the rate of 10% per annum will amount to ₹399300.

∴ Amount for n years

=RR

$300000 (1 \times \frac{10}{100}) { }^{n }$

By the condition,

$300000 (1 \times \frac{10}{100}) { }^{n } = 399300$

$=> (\frac{11}{10} ) {}^{n} = \: \frac{399300}{30000}$

$=> (\frac{11}{10} ) {}^{n} = \: \frac{1331}{1000}$

$=> (\frac{11}{10} ) {}^{n} = \: (\frac{11}{10}) {}^{3}$

∴ n = 3

∴ In the rate of compound interest if 10% per annum ₹300000 will amount to ₹399300 in 3 years.