Question

in what time 1000 amounts to 1,331 at 10% p.a. compounded annually?
(i) 2 years (ii) 3 years
(ii) 3.5 years (iv) 8 years​

Answer 1

Answer:

3.5

Step-by-step explanation:

i hope will helpful

Answer 2

Answer:

3 years

Step-by-step explanation:

P( 1+R/100)^T= A

Where P= principal= 1000;

R= rate= 10%

A= Amount=1331

and T=time= ?

1000( 1+ 10/100)^T = 1331

1000( 1+ 10/100)^T = 1331(1+ 1/10)^T= 1331/1000

1000( 1+ 10/100)^T = 1331(1+ 1/10)^T= 1331/1000(11/10)^T = (11/10)^3

1000( 1+ 10/100)^T = 1331(1+ 1/10)^T= 1331/1000(11/10)^T = (11/10)^3hence T = 3 years