In how many years will Rs. 2,000 amount to 2,662 at 10% compound interest
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Answer:
In 2 years rupees 2000 will amount to rupees 2420 at 10% per annum compound interest.
Step-by-step explanation:
a= 2662rs
p= 2000rs
r=10%
t= ????
now
a=p(1+r/100)^t
2662/2000=(1+10/100)^t
1331/ 1000= (11/10)^t
(11/10)^3= (11/10)^t
on comparing t= 3 year
∴In 2 years rupees 2000 will amount to rupees 2420 at 10% per annum compound interest.
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