Find the number of years for which the compound interest of ₹9000 is ₹1890, at the rate of 10 % per annum.

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Solution

The correct option is A 2
Given,
P = ₹9000
CI = ₹1890
Rate = 10 % per annum

$A m o u n t = C o m p o u n d I n t e r e s t + P r i n c i p a l$
$A m o u n t = ₹ 1890 + ₹ 9000$
$A m o u n t = ₹ 10, 890$

$A m o u n t = P (1 + \frac{R}{100})^{n}$
$₹ 10, 890 = ₹ 9000 (1 + \frac{10}{100})^{n}$
$₹ 10, 890 = ₹ 9000 (1 + \frac{10}{100})^{n}$
$\frac{121}{100}$ = $(\frac{11}{10})^{n}$
$n = 2 y e a r s$

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Find the number of years for which the compound interest of ₹9000 is ₹1890, at the rate of 10 % per annum.

The correct option is A 2Given, P = ₹9000 CI = ₹1890 Rate = 10 % per annum Amount=Compound Interest+Principal Amount=₹1890+₹9000 Amount=₹10,890 Amount=P(1+R100)n ₹10,890=₹9000(1+10100)n ₹10,890=₹9000(1+10100)n 121100 = (1110)n n=2 years