the compound interest on Rs1800 at the rate of 10%per annum for a certain period of time is Rs 378 . Find the time in years

Asked by galabeena1980 | 24th Dec, 2019, 12:06: PM

Expert Answer:

P = Rs. 1800, R = 10% p.a., Compound interest = Rs. 378
 
CI = P[(1 + R)n - 1]
378 = 1800 [(1 + 0.1)n - 1]
1.1n - 1 = 0.21
1.1= 1.21
n = 2 
 
The compound interest on Rs. 1800 at the rate of 10%per annum is Rs 378 in 2 years.

Answered by Sneha shidid | 24th Dec, 2019, 01:06: PM