Question

In how many years will 2000 amount to 2,420 at 10%. per
annum compound interest ?
​

Answer 1

Answer:

2 years

Step-by-step explanation:

GIVEN,

A = 2420

P = 2000

R = 10

TO FIND

TIME

CALCULATION

A= P×(1+R/100)^n

2420 = 2000(1+10/100)^n

2420/2000 = (11/10)^n .... (Simpilfied)

121/100 = (11/10)^n

(11/10)^2 = (11/10)^n.

n=2 yrs