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Calculate in how many years will Rs. 300000 amount to Rs. 399300 at the rate of 10% compound interest per annum. |
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Answer» here principal `=Rs. 300000` Rate of compound interest `=10%` per annum let the required time be `t` years. `:.` The amount of Rs. 300000 after `t` years `=Rs. 300000xx(1+10/100)^(t)` `=Rs. 300000xx(1+1/10)^(t)` `=Rs. 300000xx(11/10)^(t)` As per questinon `300000xx(11/10)^(t)=399300` or `(11/10)^(t)=399300/30000` `=1331/1000=(11/10)^(3)` `:.(11/10)^(t)=(11/10)^(3)impliest=3` Hence the required time `=3` years. |
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