Find the Time in Years. If
The compound interest on ₹ 1,800 at 10% per annum for a certain period of time is ₹ 378. Find the time in years.
- 2.5 years
- 2.0 years
- 2.8 years
- 3.0 years
Answer: (2) 2.0 years
Explanation:-
Given-
Compound interest = Rs.378, Principal = Rs.1,800, Rate = 10% and time = ?
Amount = 1,800 + 378 = Rs.2178
2178 = 1800(1 + 10/100)t
2178/1800 = (1 + 1/10)t2178/1800 = (11/10)t
121/100 = (11/10)t
(11/10)2 = (11/10)t
Comparing on both side
2 = t
Hence, the answer is (2) 2.0 years
