Question

find in how many years rs 300 will become rs 3000 at 5%. compound interest ​

Answer 1

Answer:

Step-by-step explanation:

PARAMETERS GIVEN,

PRINCIPAL = ₹300

RATE% = 5%

AMOUNT = ₹3000

SO,

LET THE TIME BE x years

SO,

A.T.Q.,

A=P(1+R/100)ⁿ

₹3000 = ₹300(1+5/100)ˣ

3000 = 300(105/100)ˣ

3000/300 = (105/100)ˣ

10 = (105/100)ˣ

Answer 2

Answer:

47.21

Step-by-step explanation:

Principal (P)= 300

Amount (A)= 3000

Interest (I)= 5/100= 0.05

Now,

A=P(1+i)n

3000=300(1.05)n

Taking Log in both sides

Log3000=Log300+n Log(1.05)

n x 0.02118 = 3.47712 - 2.47712

n x 0.02118 = 1

n = 1/0.2118

=47.21 years(approx)