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When the interest is compounded continuously, the amount of money invested increases at a rate proportional to its size. If Rs.1000 is invested at 10% compounded continuously, in how many years will the original investment double itself?

When the interest is compounded continuously, the amount of money invested increases at a rate proportional to its size. If Rs.1000 is invested at 10% compounded continuously, in how many years will the original investment double itself?

Grade:Upto college level

1 Answers

SHAIK AASIF AHAMED
askIITians Faculty 74 Points
6 years ago
Hello student,
From the formula of compound interest A=P(1+r/100)n
2000=1000(1+10/100)n
2=(1.1)n
we get n=7.27 years
Thanks and Regards
Shaik Aasif
askIITians faculty

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