Question

In how many years will Rs 7000 amounts to Rs 9317 at 10% compound interest?

Answer 1

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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Answer 2

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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