SSC (English Medium) Class 8Maharashtra State Board
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In How Many Years ₹700 Will Amount to ₹847 at a Compound Interest Rate of 10 P.C.P.A. - SSC (English Medium) Class 8 - Mathematics

ConceptConept of Compound Interest

Question

In how many years ₹700 will amount to ₹847 at a compound interest rate of 10 p.c.p.a.

Solution

Here, P = Principal = ₹ 700
A = Amount = ₹ 847
R = 10 %
N = N years

A = P (1 + "R"/100)^"N"

= 847 = 700 (1 + 10/100)^"N"

= 847/700 = (1 + 1/10)^"N"

= 121/100 = (11/10)^"N"

= (11/10)^2 = (11/10)^"N"

= N = 2

Hence, the number of years is 2 years.

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APPEARS IN

Balbharati Solution for Balbharati Class 8 Mathematics (2019 to Current)
Chapter 14: Compound interest
Practice Set 14.2 | Q: 9 | Page no. 93
Solution In How Many Years ₹700 Will Amount to ₹847 at a Compound Interest Rate of 10 P.C.P.A. Concept: Conept of Compound Interest.
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