Question

in how many years will rsb4000 amount to rs 5324 at the rate of 10% per annum commpounded annually

Answer 1

Principal =₹4000

Amount =₹5324

Rate =10%

Let the time be t years..

Now,amount=4000(1+10/100)^t

4000(1+1/10)^t=₹5324

(11/10)^t=5324/4000

(11/10)^t=(11/10)^3

t=3

Therefore answer is three years ...

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