Question

in how manye years rs 100000 will become rs 133100 at compound interest rate of 10% per annum? ​

Answer 1

Answer:

3 years

Step-by-step explanation:

using compound interest formula, sum of p will be equal to p(1+r/100)^n in n years at r% rate of interest.

100000(1+10/100)^n= 133100

(1+0.1)^n = 1.331

1.1^n =1.331

it is simple to see that

1.1*1.1*1.1 =1.331

so

1.1^3=1.331

so

n=3

or we can use log

log (1.1^n )= log (1.331)

n log (1.1) = log(1.331)

n = log(1.331)/log(1.1)

n=3