Question

In how many years will

The Compounds interest
onRs. 14,000 be Rs. 4, 634 at 10%
p.a?
​

Answer 1

3 years

Explanation:

A = P(1 + r)^t

A = I + P

A = 14,000 + 4,634 = 18,634

18,634 = 14,000(1 + 0.1)^t

18,634/14,000 = 1.1^t

log (18,634/14,000) = log 1.1^t

log (18,634/14,000) = t * log 1.1

t = [log (18,634/14000)]/(log 1.1)

t = 3