Rs. 50,000 yields a compound interest of Rs. 11,605 at 11% per annum.

1.	Rs. 50,000 yields a compound interest of Rs. 11,605 at 11% per annum. The period (in years) is:1. 2 years2. 3 years3. 4 years4. 2(1/2) years
Answer» Correct Answer - Option 1 : 2 years Given: Principal (P) = Rs.50,000 C.I. = Rs.11,605 Rate (R) = 11% Formula used: A = P(1 + R/100)n Where A → amount P → principal R → rate n → time Calculations: Amount = 50000 + 11605 = Rs. 61,605 A = P(1 + R/100)n ⇒ 61605 = 50000(1 + 11/100)ⁿ ⇒ (111/100)n = 61605/50000 ⇒ (111/100)n = 12321/10000 ⇒ (111/100)n = (111/100)² ⇒ n = 2 ∴ The time period is 2 years.

Rs. 50,000 yields a compound interest of Rs. 11,605 at 11% per annum. The period (in years) is:1. 2 years2. 3 years3. 4 years4. 2(1/2) years

Answer» Correct Answer - Option 1 : 2 years

Given:

Principal (P) = Rs.50,000

C.I. = Rs.11,605

Rate (R) = 11%

Formula used:

A = P(1 + R/100)n

Where A → amount

P → principal

R → rate

n → time

Calculations:

Amount = 50000 + 11605 = Rs. 61,605

A = P(1 + R/100)n

⇒ 61605 = 50000(1 + 11/100)ⁿ

⇒ (111/100)n = 61605/50000

⇒ (111/100)n = 12321/10000

⇒ (111/100)n = (111/100)²

⇒ n = 2

∴ The time period is 2 years.

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Rs. 50,000 yields a compound interest of Rs. 11,605 at 11% per annum. The period (in years) is:1. 2 years2. 3 years3. 4 years4. 2(1/2) years

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