Sum
In how many years Rs. 1,00,000 will become Rs. 1,33,100 at a compound interest rate of 10% per annum?
Advertisement Remove all ads
Solution
Principal P = ₹ 1,00,000
Amount A = ₹ 1,33,100
Rate of interest R = 10% p.a.
A = P`(1 + "R"/100)^"T"`
∴ 133100 = 100000`(1 + 10/100)^"T"`
∴ `1331/1000 = (1 + 1/10)^"T" = (11/10)^"T"`
∴ `(11/10)^3 = (11/10)^"T"`
∴ T = 3 years
∴ ₹ 1,00,000 will become ₹ 1,33,100 after 3 years.
Concept: Simple and Compound Interest
Is there an error in this question or solution?
Advertisement Remove all ads
APPEARS IN
Advertisement Remove all ads
Advertisement Remove all ads
