In what time will rs. 10,000 amount to rs. 12,100 at 10% per annum, compounded annually?
Answers
Answered by
0
Answer:
easy.........................
Answered by
2
Answer:
2 years
Step-by-step explanation:
A = P ( 1 + r ) ^ n
where A = amount = 12100
P = Principle = 10000
r = rate of interest = 10% = 10/100 = 0.1
n = years = ?
A = P ( 1 + r ) ^ n
=> 12100 = 10000 ( 1 + 0.1 ) ^ n
=> 12100/10000 = ( 1.1 )^n
=> 1.21 = ( 1.1 )^ n
=> ( 1.1 * 1.1 ) = ( 1.1 ) ^n
=> ( 1.1 ) ^ 2 = ( 1.1 ) ^n
=> n = 2
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