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In how many years ₹ 700 will amount to ₹ 847 at a compound interest rate of 10 p.c.p.a. |
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Answer» GIVEN Principal Amount= P= 700 Rates of interest PER annum= i =10% p.a Time= N = ? Compounded amount= 847 We KNOW that Compound amount = P(1+i)^n 847 =700[ (1+10/100)^n 847 =700[(1 + 0.1)^n 847 =700[ (1.1)^n 847 / 700=(1.1)^n 1.21= (1.1)^n we can write 1.21 as 1.1 ×1.1 =(1.1)^2 (1.1)^2= (1.1)^n Bases are equal equate the POWERS 2 = n...it takes 2 years for 700 to become 847 at 10.%p.a |
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