SOLUTION: Daniel deposited Rs 3000 in an account. How many years will it take this money to double at simple interest rate at 10 %?

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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 %?
Answer by Finavon(81) About Me  (Show Source):
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10% pa
Target 100%
Period +100%2F10+=+10+years

For compound interest:
n years
1.1^n=2
Log of both sides
n log1.1=log2
So n=+log2%2Flog1.1
n=.3010%2F.0414=7.27
7.27 years
Check 1.1%5E7.27=2.0