Question
After how many years, Rs. 4400 will become 5324 at the
rate of 10% p.a., compounded annually?Solution
Let number of years be ‘n’ years So, 5324 = 4400(1 + 10/100)n Or, 5324/4400 = (11/10)n (11/10)2 = (11/10)n Number of years = ‘n’ = 2 years
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