Question

if 105 is the compound interest on 500 at 10% compound interest. find the time​

Answer 1

Answer:

Time= 2 years

Step-by-step explanation:

CI=105

P=500

R=10%

CI=P(1+R/100)^T - 1

105=500(1+10/100)^T-1

when we do cut the zero and do LCM we got the answer:

105=500×(11/10)^T-1

105/500=(11/10)^T-1

21/100=(11/10)^T-1

21/100+1=(11/10)^T

DO THE LCM

121/100=(11/10)^T

(11/10)^2=(11/10)^T

T=2 years