Correct Answer - Option 4 : 4 years
Given:
Principal = Rs. 10000
Rate of interest = 10%
Amount = Rs. 14641
Formula used:
A = P(1 + R/100)T
Where, A = Amount, P = Principal
R = Rate of interest, T = Time
Calculation:
A = P(1 + R/100)T
⇒ 14641 = 10000(1 + 10/100)T
⇒ (14641/10000) = (11/10)T
⇒ (11/10)4 = (11/10)T
⇒ T = 4 years
∴ The time is 4 years.
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Updated On: 27-06-2022
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