Q. 203.9( 32 Votes )

In how many years

Answer :

Let time = n years


P = Rs.1800


A = Rs.2178


R = 10% per annum


Now,


Amount (A) = P (1 + R/100)n [Where, A = Amount with compound interest


P = Present value


R = Annual interest rate


n = Time in years]


A = P (1 + R/100)n


2178 = 1800 (1 + 10/100)n


(1 + 1/10)n = 2178/1800


(11/10)n = 121/100


(11/10)n = (11/10)2


n = 2


Time = 2 years.


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