document.write( "Question 798543: Daniel deposited Rs 3000 in an account. How many years will it take this money to double at simple interest rate at 10 %? \n" ); document.write( "

Algebra.Com's Answer #482274 by Finavon(81) $\"\"$ $\"About$

You can put this solution on YOUR website!
10% pa
\n" ); document.write( "Target 100%
\n" ); document.write( "Period $\"+100%2F10+=+10+years\"$ \r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "For compound interest:
\n" ); document.write( "n years
\n" ); document.write( "1.1^n=2
\n" ); document.write( "Log of both sides
\n" ); document.write( "n log1.1=log2
\n" ); document.write( "So $\"n=+log2%2Flog1.1\"$
\n" ); document.write( " $\"n=.3010%2F.0414=7.27\"$
\n" ); document.write( "7.27 years\r
\n" ); document.write( "\n" ); document.write( "Check $\"1.1%5E7.27=2.0\"$ \n" ); document.write( "

\n" );