1. in how many years will ₹4000 amount to ₹5324 at the rate of 10 % per annum compounded annually
2. at what rate of compound interest will ₹1250 amount to ₹1800 in 2 years
Answers
Answered by
0
Answer:
Given that, P=Rs. 4000,A=Rs. 5324 and R=10%
Let the time be T years
We know that, for compound interest,
A=P×(1+
100
R
)
T
∴ 5324=4000×(1+
100
10
)
T
⇒
4000
5324
=(1+
10
1
)
T
⇒
1000
1331
=(
10
11
)
T
⇒ (
10
11
)
3
=(
10
11
)
T
∴ T=3years.
Hence, Rs. 4000 will amount to Rs. 5324 at 10% per annum in 3 years.
Similar questions