in what time 1000 amounts to 1,331 at 10% p.a. compounded annually? (i) 2 years (ii) 3 years (ii) 3.5 years (iv) 8 years​

Question

in what time 1000 amounts to 1,331 at 10% p.a. compounded annually?
(i) 2 years (ii) 3 years
(ii) 3.5 years (iv) 8 years​

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Ariana 3 weeks 2021-08-21T14:37:39+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-08-21T14:38:50+00:00

    Answer:

    3.5

    Step-by-step explanation:

    i hope will helpful

    0
    2021-08-21T14:39:22+00:00

    Answer:

    3 years

    Step-by-step explanation:

    P( 1+R/100)^T= A

    Where P= principal= 1000;

    R= rate= 10%

    A= Amount=1331

    and T=time= ?

    1000( 1+ 10/100)^T = 1331

    1000( 1+ 10/100)^T = 1331(1+ 1/10)^T= 1331/1000

    1000( 1+ 10/100)^T = 1331(1+ 1/10)^T= 1331/1000(11/10)^T = (11/10)^3

    1000( 1+ 10/100)^T = 1331(1+ 1/10)^T= 1331/1000(11/10)^T = (11/10)^3hence T = 3 years

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