Question

In what time will rupees 1000 amount to rupees 1210 at 10 percent per annum compounded annually through the simple interest formula? Fastest answer with full step will be marked brainliest.

Answer 1

amount=principle(1 +rt/100)
1210=1000(1+10t/100)
121/100=1+t/10
21/100=t/10
2.1years=t

by compound interest
amount=p(1 +r/100)^n
1210=1000(1+r/100)^n
121/100=(1+10/100)^n
(11/10)^2=(11/10)^n
n=2years