Question

I invested Rs 5000 at 10% per annum and compound intrest after n years I received Rs 1655 more the value of n

Answer 1

Answer:

Time is 3 years

Step-by-step explanation:

We have

Principal, P = Rs 5000

Rate, R = 10% per annum

Compound Interest, CI = Rs 1655

Thus, Amount is calculated as

Amount = Principal + Compound Interest

A = Rs 5000 + Rs 1655

A = Rs 6655

Let number of years be $n$ years.

Using the formula for compound interest, we have

$A = P(\, 1 + \frac{R}{100})\,^T\\\\ 6655 = 5000 (\,1 + \frac{10}{100})\,^n\\\\ \frac{6655}{5000} = (\,1 + \frac{1}{10})\,^n\\\\ \frac{1331}{1000} = (\,\frac{11}{10})\,^n\\\\ \frac{(\,11)\,^3}{(\,10)\,^3} = (\,\frac{11}{10})\,^n\\\\ (\,\frac{11}{10})\,^3 = (\,\frac{11}{10})\,^n$

On comparing, we get

n = 3 years

Thus, time is 3 years

Answer 2

Step-by-step explanation:

Time is 3 years

Step-by-step explanation:

We have

Principal, P = Rs 5000

Rate, R = 10% per annum

Compound Interest, CI = Rs 1655

Thus, Amount is calculated as

Amount = Principal + Compound Interest

A = Rs 5000 + Rs 1655

A = Rs 6655

Let number of years be nn years.

Using the formula for compound interest, we have