Q23 of 52 Page 112

Let us calculate in how many years will ₹50000 amount to ₹60500 at the rate of 10% compound interest per annum.

Let it be in ‘n’ years ₹50000 in compound interest at the rate of 10% per annum will amount to ₹60500.


∴ Amount for n years


By the condition,





∴ n = 2


∴ In the rate of compound interest if 10% per annum ₹50000 will amount to ₹60500 in 2 years.


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