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    Question

    In what time will Rs. 16000 amount to Rs. 19360 @ 10%

    compound interest?
    A 2% years Correct Answer Incorrect Answer
    B 3% years Correct Answer Incorrect Answer
    C 3/2% years Correct Answer Incorrect Answer
    D 4% years Correct Answer Incorrect Answer

    Solution

    A = P ( 1 + R/100)t 19360 = 16000 ( 1 + 10/100) t 19360 /16000 = (11/10)t (11/10)² = (11/10)t t= 2 years, The required time is 2 years

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