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.

  1. 2.5 years
  2. 2.0 years
  3. 2.8 years
  4. 3.0 years
Manish Listener Asked on 15th June 2015 in Maths.
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  • 1 Answer(s)

    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

    Anurag Mishra Professor Answered on 15th June 2015.
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