In how much time would ₹1000 amount to ₹13310 at 10% per annum com

1.	In how much time would ₹1000 amount to ₹13310 at 10% per annum compound interest.
Answer» Step-by-step explanation: Principal = RS 1000 Amount = Rs 1331 Rate = 10% per annum LET time = T years By using the formula, A = P (1 + R/100)^n 1331 = 1000 (1 + 10/100)T 1331 = 1000 (110/100)T (11/10)T = 1331/1000 (11/10)T = (11/10)3 So on comparing both the sides, n = T = 3 ∴ Time REQUIRED is 3years.

In how much time would ₹1000 amount to ₹13310 at 10% per annum compound interest.

Answer»

Step-by-step explanation:

Principal = RS 1000

Amount = Rs 1331

Rate = 10% per annum

LET time = T years

By using the formula, A = P (1 + R/100)^n

1331 = 1000 (1 + 10/100)T

1331 = 1000 (110/100)T

(11/10)T = 1331/1000

(11/10)T = (11/10)3

So on comparing both the sides, n = T = 3

∴ Time REQUIRED is 3years.