Question

In how many years will Rs 1800 amount to Rs 2178 at 10% per annum when compounded annually.​

Answer 1

Answer:

2 years

Step-by-step explanation:

Given:

Principal = Rs 1,800

Final amount = Rs 2,178

Rate of interest = 10%

Concept used:

Amount after ‘n’ years for a Principal of P and rate of interest of r% compounded annually, A = P × (1 + r/100)n

Calculation:

A = P × (1 + r/100)n

2,178 = 1,800 × (1 + 10/100)n

⇒ 2,178/1,800 = (11/10)n

⇒ 121/100 = (11/10)n

⇒ (11/10)2 = (11/10)n

⇒ n = 2

∴ In two years the amount of Rs 1,800 will become Rs 2,178 at 10% compounded annually.

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Answer 2

Given:

Principal = Rs 1,800

Final amount = Rs 2,178

Rate of interest = 10%

Concept used:

Amount after ‘n’ years for a Principal of P and rate of interest of r% compounded annually, A = P × (1 + r/100)n

Calculation:

A = P × (1 + r/100)n

2,178 = 1,800 × (1 + 10/100)n

⇒ 2,178/1,800 = (11/10)n

⇒ 121/100 = (11/10)n

⇒ (11/10)2 = (11/10)n

⇒ n = 2

∴ In two years the amount of Rs 1,800 will become Rs 2,178 at 10% compounded annually.

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