In how many years will Rs 7000 amounts to Rs 9317 at 10% compound interest?
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Answered by
4
Answer:
Heya ☺
Given that
A = ₹9,317
P = ₹7,000
R = 10 % p.a.
T = ?
Solution
A = P(1+R/100)^n
=> 9,317 = 7,000(1+10/100)^n
=> 9,317/7,000 = (100+10/100)^n
=> 1,331/1,000 = (110/100)^n
=> 1,331/1,000 = (11/10)^n
=> (11/10)^2 = (11/10)^n
=> n = 2 years
Step-by-step explanation:
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Answered by
1
Step-by-step explanation:
Heya ☺
Given that
A = ₹9,317
P = ₹7,000
R = 10 % p.a.
T = ?
Solution
A = P(1+R/100)^n
=> 9,317 = 7,000(1+10/100)^n
=> 9,317/7,000 = (100+10/100)^n
=> 1,331/1,000 = (110/100)^n
=> 1,331/1,000 = (11/10)^n
=> (11/10)^2 = (11/10)^n
=> n = 2 years
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