Compound interest on 1,800 at 10 % per annum for a certain period of time is 378 . time in years.

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6.Interest

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The compound interest on $\$ 1,800$ at $10 \%$ per annum for a certain period of time is $\$ 378 .$ Find the time in years.

A

$2.5$

B

$2.0$

C

$2.8$

D

$3.0$

Solution

(b) Principal $(P)=₹ 1800$

Rate $(R \%)=10 \%$

$C.I. =₹ 378$

$Time \rightarrow T$

C.I. $=P\left(1+\frac{R}{100}\right)^{T}-P$

$378=1800\left(1+\frac{10}{100}\right)^{T}-1800$

$T=2$ years

Standard 13

Quantitative Aptitude

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