Q9 of 13 Page 93

In how many years ₹ 700 will amount to ₹ 847 at a compound interest rate of 10 p.c.p.a.

Principal = 700/-, Rate = 10% (p.c.p.a), Duration (n) = n years Amount = 847/-





1.21 =


1.21 =


∴ n = 2 years


∴ The number of years required to gain an amount of 847/- from a principal of 700/- is 2 .


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