In how many year will rs 2000 amount to rs 2420 at 10% per annum compound intrest
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Heya ✋
Let see your answer !!!!
Given that
A = ₹2,420
P = ₹2,000
R = 10 % p.a.
T = ?
Solution
When the interest is compounded annually
A = P(1 + R/100)^n
=> 2,420 = 2,000(1 + 10/100)^n
=> 2,420/2,000 = (100 + 10/100)^n
=> 121/100 = (110/10)^n
=> (11/10)^2 = (11/10)^n
=> n = 2 years
Thanks :))))
Let see your answer !!!!
Given that
A = ₹2,420
P = ₹2,000
R = 10 % p.a.
T = ?
Solution
When the interest is compounded annually
A = P(1 + R/100)^n
=> 2,420 = 2,000(1 + 10/100)^n
=> 2,420/2,000 = (100 + 10/100)^n
=> 121/100 = (110/10)^n
=> (11/10)^2 = (11/10)^n
=> n = 2 years
Thanks :))))
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