Question

Find the time in which 2000 will amount to 2330 at 11%

Answer 1

1.5 years they will amount 2330 at 11% rate of interest

Answer 2

A=P(1+tr/100)

2330=2000(1+t(11)/100)

2330=2000(100/100+11t/100)

2330=2000*111t/100

2330*100=222000t

233000/222000=t

t=1year