In how many years ` 100000 will become ` 1,33,100 at compound interest rate of 10% per annum?
Answer
Answer (as printed):
Explanation
Principal $=₹100000$, Amount $=₹133100$, Rate $=10\%$ p.a. Let the time be $n$ years. Then, $$100000\left(1+\frac{10}{100}\right)^{n}=133100 \Rightarrow\left(\frac{11}{10}\right)^{n}=\left(\frac{1331}{1000}\right)=\left(\frac{11}{10}\right)^{3} \Rightarrow n=3 .$$ Hence, required time $=3$ years.
Explanation as extracted from the printed page; notation may be imperfect.