Question

At the rate of 10% per annum compounded annually, how long would it take for a sum of $ 10000 to compound to $ 13310

Answer 1

Answer:  3 years

Step-by-step explanation:

Step 1

Let the time be n years.

Step 2

According to the question,

Principal, P = $10000

Rate, R = 10%

Amount = $13310

Step 3

Let's find the time.

Amount = P(1 +  $\frac{r}{100}$ )$)^{n}$

⇒ 13310 = 10000(1 +$\frac{10}{100}$)$^{n}$

⇒$\frac{13310}{10000} =(\frac{110}{100} )^{n}$

⇒$(\frac{11}{10} )^{3} =(\frac{11}{10} )^{n}$

n=3

Step 4

Therefore, in 3 years, $10000 will become $13310 at 10% per annum compounded annually.

Answer 2

Answer:  3 years is your answer.    Mark me as brainliest