In how many years will rupees 7000 amount to rupees 9317 at 10 percent per annum compound interest
Answers
Answered by
7
Heya ✋
Let see your answer !!!!
Given that
A = ₹9,317
P = ₹7,000
R = 10 % p.a.
T = ?
Solution
When the interest is compounded annually
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
=> (11/10)^2 = (11/10)^n
Since , bases are same
=> n = 2 years
Thanks :)))))
Let see your answer !!!!
Given that
A = ₹9,317
P = ₹7,000
R = 10 % p.a.
T = ?
Solution
When the interest is compounded annually
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
=> (11/10)^2 = (11/10)^n
Since , bases are same
=> n = 2 years
Thanks :)))))
Similar questions