Question

In how many years will Rs 1600 amount to Rs 1936 at 10% annum when

compounded annually?​

Answer 1

Answer:

2 years

Step-by-step explanation:

r = 10%

compound interest,

$ci = p({1 + (r \div 100)}^{n} - 1)$

CI = 1936 - 1600 = 336 rs

336 = 1600 ({(1+r/100)}^{n} - 1)

finally we get it as ,

$(121 \div 100) = {(11/100)}^{n}$

${(11 \div 10)}^{2} = ({11 \div 10})^{n}$

n = 2 yrs