Question

In how many years will 8800 amount to 10,648 at 10% p.a compounded anually

Answer 1

$Let \: the \: time \: be \: x$
Then,
$8800(1 + \frac{10}{100})^{x} = 10648 \\ \\ 8800( \frac{11}{10})^{x} = 10648 \\ \\ ( \frac{11}{10} )^{x} = \frac{10648}{8800} \\ \\ (1.1) ^{x} = \frac{10648 \div 88}{8800 \div 88} \\ (1.1)^{x} = \frac{121}{100} \\ ({1.1})^{x} = 1.21 \\ ( {1.1} )^{x} = ({1.1})^{2}$

1.1 gets cancelled from both sides(LHS & RHS)

$x = 2$
Hence, The required time is 2 years.....