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      Question

      After how many years, Rs. 4400 will become 5324 at the

      rate of 10% p.a., compounded annually?
      A 2.5 years Correct Answer Incorrect Answer
      B 5 years Correct Answer Incorrect Answer
      C 2 years Correct Answer Incorrect Answer
      D 3 years Correct Answer Incorrect Answer

      Solution

      Let number of years be โ€˜nโ€™ years So, 5324 = 4400(1 + 10/100)n Or, 5324/4400 = (11/10)n (11/10)2ย = (11/10)n Number of years = โ€˜nโ€™ = 2 years

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