Question

in 3 years 1600 amount to 1936 at 10% p a compound intrest.​

Answer 1

Answer:

Interest for first year =

100

1600×5×1

=80

Amount after first year =1600+80=1680

Interest for second year =

100

1680×5×1

=84

Amount after second year =1680+84=1764

Interest for third year =

100

1764×5×1

=88.2

Amount after first year =1764+88.2=1852.2

Thus, time required =3years

Answer 2

Answer:

Interest for first year =

100

1600×5×1

=80

Amount after first year =1600+80=1680

Interest for second year =

100

1680×5×1

=84

Amount after second year =1680+84=1764

Interest for third year =

100

1764×5×1

=88.2

Amount after first year =1764+88.2=1852.2

Thus, time required =3years