Q24 of 52 Page 112

Let us write by calculating in how many years will ₹300000 amount to ₹399300 at the rate of 10% compound interest per annum.

Let it be in ‘n’ years ₹300000 in compound interest at the rate of 10% per annum will amount to ₹399300.


∴ Amount for n years


By the condition,





∴ n = 3


∴ In the rate of compound interest if 10% per annum ₹300000 will amount to ₹399300 in 3 years.


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