A woman deposited Rs. 100 in the bank at an interest rate of 10% per annum. After
being compounded annually , at the end of the tenure the woman got Rs. 121. For how long
did she keep the money in the bank?
Answers
Answered by
1
it may be 6 years ...
abhi1005:
i need exactly
(a) 1 year
(b) 2 years
(c) 2.5 years
(d) 3 years
(b) 2 years
(c) 2.5 years
(d) 3 years
yup ...2 years
b option
Answered by
6
Formula for compound interest is
A = P(1+(r/n))^nt
A = 121; P = 100 ; r=10%=10/100=0.1; n=1; t=?;
121 = 100(1+0.1/1)^t
121 = 100(1.1)^t
1.1^t = 121/100
1.1^t = 1.21
t log 1.1=log 1.21
t = 0.0827/log 1.1
t = 0.0827/0.0413
t = 2
Hence the women kept Rs. 100 for 2 years
A = P(1+(r/n))^nt
A = 121; P = 100 ; r=10%=10/100=0.1; n=1; t=?;
121 = 100(1+0.1/1)^t
121 = 100(1.1)^t
1.1^t = 121/100
1.1^t = 1.21
t log 1.1=log 1.21
t = 0.0827/log 1.1
t = 0.0827/0.0413
t = 2
Hence the women kept Rs. 100 for 2 years
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