Question

in how many years will ₹1600 amount to ₹2116 at 15% compound interest? ​

Answer 1

Answer:

hope this answer of mine helps you

Answer 2

Answer:

₹1600 amount will become ₹2116 at 15% compound interest in 2 years .

Step-by-step explanation:

Given, 1600 rupees become 2116 rupees at 15% rate of interest in compound interest.

Here we want to find time.

We know,

Amount = $p{(1 + \frac{r}{100}) }^{t}$

Where p is principal,r is rate of interest and t is time.

Here,

$p = 1600 \: rupees \\ r = 15\% \\ amount = 2116 \: rupees$

According to question,

$2116 = {1600(1 + \frac{15}{100}) }^{t} \\ {(1 + \frac{3}{20}) }^{t} = \frac{2116}{1600} \\ { (\frac{23}{20} })^{t} = \frac{529}{400} \\ {( \frac{23}{20}) }^{t} = { (\frac{23}{20} )}^{2} \\ t = 2$

Therefore in 2 years ₹1600 amount will become ₹2116 at 15% compound interest.

Know more about Compound interest,

1) https://brainly.in/question/1950647

2)https://brainly.in/question/11735147