The time in which Rs. 6000 amounts to Rs. 7986 at 10% p.a. compounded annually is

Given:

Principal \( (P)=6000 \) 

Amount $=Rs.\ 7986$

Rate \( (\mathrm{R})=10 \) per annum compounded annually.

To do:

We have to calculate the time. 

Solution:

Let the time be $n$.

We know that,

Amount \( (\mathrm{A})=\mathrm{P}\left(1+\frac{R}{100}\right)^{n} \)

Therefore,

$7986=6000(1+\frac{10}{100})^{n}$

$7986 =6000(1+0.1)^n$

$\frac{7986}{6000}=(1.1)^n$

$1.331=(1.1)^n$

$(1.1)^3=(1.1)^n$

Comparing both sides, we get,

$n=3$

Therefore, in 3 years Rs. 6000 amounts to Rs. 7986 at 10% p.a. compounded annually.

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Updated on: 10-Oct-2022

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