Question

In how many years will $ 4000 amount to $5324 at 10% compound interest?

Answer 1

Answer:

so

the formula is

4000(1+10/100)^x=5324

(11/10)^x=5324/4000

=1+1/(10^x)=5324/4000

1/(10^x)=1324/4000

4000=1324*10^x

4000/1324=10^x

aprox3=10^x

x=.4(APPROX)

.4=approx 5 years

Step-by-step explanation:

Answer 2

Here P = Rs = 4000,

A = $ 5324, and

R = 10% p.a.

$\bold{A = P(1 + \frac{r}{100} )^{n}}$

=> $5324 = $4000 (1 + 10/100)^n

=> 5324/4000 = (11/10)^n

=> (11 / 10)^n = 1331/1000 = (11/10)^3

=> n = 3.

therefore, the time = 3 years.