Question

In what time will rs. 1500 yield rs. 496.50 as compound interest at 10% per annum compounded annually

Answer 1

p = 1500
time = x
rate = 10%
amount=
$p {(1 + \frac{r}{100} )}^{t}$
compound interest= amount - principle=
$p(1 + \frac{r}{100} {)}^{t \:} - p = 496.50$
$= 1500(1 + \frac{10}{100 } {)}^{x} - 1500 = 496.50rs$

$1500( \frac{110}{100} {)}^{x} - 1500 \: = 496.50$
$1500(\frac{110}{100} {)}^{x} = 496.50 + 1500 = 1996.50$

$( \frac{110}{100} {)}^{x} = \frac{1996.50}{1500}$

$( \frac{110}{100} {)}^{x} = 1.331$
$( \frac{11}{10} {)}^{x} = \frac{1331}{1000}$

x = 3 because
$( \frac{11}{10} {)}^{3} = \frac{1331}{1000} = 1.331$
hope this helps you
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Answer 2

Number of year (n) = 3 year

Step-by-step explanation:

Given:

Amount (P) = 1,500

Compound interest (C.I) = 496.50

Rate of interest = 10% = 10 / 100 = 0.1

Find:

Number of year (n) = ?

Computation:

$Compound\ interest (C.I) =P[(1+r)^n-1]\\\\496.50 =1,500[(1+0.1)^n-1]\\\\0.331 = [(1.1)^n-1]\\\\1+0.331 = [(1.1)^n]\\\\1.331 = [(1.1)^n]\\\\(1.1)^3 = (1.1)^n\\\\n = 3$

Number of year (n) = 3 year

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