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    Question

    In what time will Rs. 21000 amount to Rs. 27951 @ 10%

    compound interest?
    A 2 years Correct Answer Incorrect Answer
    B 3 years Correct Answer Incorrect Answer
    C 3/2 years Correct Answer Incorrect Answer
    D 4 years Correct Answer Incorrect Answer

    Solution

    A = P ( 1 + R/100)t 27951 = 21000 ( 1 + 10/100) t 27951 /21000 = (11/10)t 1331/1000 =  (11/10) t   (11/10)³ = (11/10) t t= 3 years The required time is 3 years.

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