suppose an amount of rs. x is invested and you receives four times of x interest rate 10% compounded. how long it requires to he invested?
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Answer:
14.6 years
Step-by-step explanation:
Note :
A = P ( 1 + r ) ^n
Where A = amount = 4x ( 4 times of x )
P = primciple = x
r = rate of interest in decimal = 10% = 10/100 = 0.1
n = number of year = ?
A = P ( 1 + r ) ^ n
=> 4x = x ( 1 + 0.1 ) ^ n
=> 4x / x = ( 1.1 )^ n
=> 4 = ( 1.1 ) ^ n
=> 4 = ( 1.1 ) ^ 14.6
=> n = 14.6
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