The time in which ₹10648 amounts to ₹8000 at 10% p.a. compounded annually is [[1]] years.

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answer is 3.

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Detailed Solution

A=₹10648, P=₹8000, R=10%pa

$∴ \frac{A}{P} = {(1 + \frac{R}{100})}^{n} \Rightarrow \frac{10648}{8000} = {(1 + \frac{10}{100})}^{n} \Rightarrow \frac{1331}{1000} = {(\frac{11}{10})}^{n} \Rightarrow {(\frac{11}{10})}^{3} = {(\frac{11}{10})}^{n} \Rightarrow n = 3$

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