In how many years will ₹ 2,000 yield ₹ 662 as | vedclass

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(A) Given:Principal $(P)$ = ₹ $2,000$Compound Interest $(C.I.)$ = ₹ $662$Rate $(r)$ = $10 \%$ per annumTime $(n)$ = ?The formula for compound interest

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$3$

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(A) Given:Principal $(P)$ = ₹ $2,000$Compound Interest $(C.I.)$ = ₹ $662$Rate $(r)$ = $10 \%$ per annumTime $(n)$ = ?The formula for compound interest is:$C.I. = P \left[ \left( 1 + \frac{r}{100} \right)^n - 1 \right]$Substituting the given values:$662 = 2000 \left[ \left( 1 + \frac{10}{100} \right)^n - 1 \right]$$662 = 2000 \left[ (1.1)^n - 1 \right]$$\frac{662}{2000} = (1.1)^n - 1$$0.331 = (1.1)^n - 1$$1.331 = (1.1)^n$Since $(1.1)^3 = 1.331$,we have:$(1.1)^3 = (1.1)^n$Therefore,$n = 3$ years.

In how many years will ₹ $2,000$ yield ₹ $662$ as compound interest at $10 \%$ per annum compounded annually?

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