Question

In how many years will rupees 4000 amount to Rupees 5324 at 10% compound interest?

Answer 1

Answer:

Let the required time be x .Then,

amount =Rs {4000×(1+10/100)^n}

={4000 ×(11/10)}

Now 4000×(11/10)^n=5324

=》(11/10)^n=5324/4000

=》(11/10)^n=1331/1000

=》(11/10)^n=(11/10)^3

=》n=3

Hence the required time is 3 years