Question

At what percent compound interest will be rupees 2000 amount to rupees 2420 in 2 years

Answer 1

Answer:

Step-by-step explanation:

Given,

P= Rs 2000  

A= Rs 2420

R= 10 %

                A = P(1 + R/100)ⁿ

⇒       2420   = 2000(1 + 10/100)ⁿ

⇒2420/2000 = (11/10)ⁿ

⇒   121/100  = (11/10)ⁿ

⇒  (11/10)²    = (11/10)ⁿ

⇒        n        = 2

∴In 2 years rupees 2000 will amount to rupees 2420 at 10% per annum compound interest.