Question

After how many years will 2000 earn a compound interest of 662 at the rate of 10% p.a. ?​

Answer 1

Answer:

3 years

Step-by-step explanation:

A = 2000 + 662

= 2662

2662 = 2000 (1 + 10/100) ^n

2662/2000 = (11/10)^n

1331/1000 (divided by 2) = (11/10)^n

(11/10)^3 = (11/10)^n

since bases are same, equating power

n = 3

Therefore Time period = 3 years