Question

In how many years will rs. 2000 amount to rs. 2662 at 10% compound interest

Answer 1

Answer:

3 years

Step-by-step explanation:

A = P ( 1+r/100)^n

here.

A =2662

P =2000

r = 10%

n= ?

2662= 2000 ( 1+10/100)^n

2662/ 2000 = (110/100)^n

1331 /1000 = (11/10)^n

(11/10)^3. = (11/10)^n

by comparison we get...

n = 3