Question

this question is from icse text book class 9
ch 2 compound interest​

Answer 1

Answer:

3 years

Step-by-step explanation:

Let the time be n.

Principal (P) = ₹14,580

Compound Interest (CI) = ₹5420

Amount (A) = P + CI = ₹14580 + ₹5420 = ₹20000

Rate (R) = 11 whole 1/9 % = 100/9%

A = P (1 + R/100)ⁿ

=> 20,000 = 14,580 (1 + 100/900)ⁿ

=> 20,000/14,580 = (1 + 1/9)ⁿ

=> 1000/729 = (10/9)ⁿ

=> (10/9)³ = (10/9)ⁿ

=> n = 3 years

Answer 2

3 years is the right answer

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