27. If Rs 100 amounts to Rs 12l at 10% per annum compound interest, the time required
I Mark
for the same is
a) 3 years
b) 10 years
c) 2 years
d) 5 years
Answers
Answered by
1
Answer:
Principal=Rs.100
Amount=Rs.121
Time =2 years
Let rate of interest be r%
∴Amount=P(1+
100
R
)
t
⇒121=100(1+
100
r
)
t
⇒(1+
100
r
)
2
=
100
121
⇒1+
100
r
=
10
11
⇒
100
r
=
10
11
−1
⇒
100
r
=
10
1
⇒r=
10
100
⇒10
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