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In how many years will the compound interest on Rs 1000 at the rate of 10% p.a. be Rs 210 ? |
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Answer» P = Rs 1000, C.I. = Rs 210 A = P + C.I. = Rs 1000 + Rs 210 = Rs 1210 r = 10% p.a., n = ? \(\therefore\) 1210 = 1000\(\big(1+\frac{10}{100}\big)^n\) \(\Rightarrow\) \(\frac{1210}{1000}\) = \(\big(1+\frac{1}{10}\big)^n\) \(\Rightarrow\) \(\frac{121}{100}\) = \(\big(\frac{11}{10}\big)^n\) = \(\big(\frac{11}{10}\big)^2\) = \(\big(\frac{11}{10}\big)^n\) \(\Rightarrow\) n = 2years. |
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