Question

₹1800 became ₹2178 in certain time at rate of 10% per annum compounded annually the time is
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Answer 1

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Interest is compounded annually,

So amount, A=P(1+ 100r) t

Where,

P is Principal (or sum)

t is time (in years)

A is the amount, person will get after time t

r is rate of interest per annum

Here,

A=2178

P=1800

t=?

r=10%

Now apply the formula,

⇒A=P(1+ r/100) t

⇒2178=1800(1+10/100)t

⇒ 1800/2178 =( 100/110) t

⇒ 100/121=(10/11)t

⇒(10/11)²=( 10/11) t

⇒t=2 years

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