Question

In how many years will Rs. 2,000 amount to 2,662 at 10% compound interest

Answer 1

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.