Compound Interest Practice Test 3

Question : 1 of 40

Marks: +1, -0

How long will it take a 7 m tall tree to reach a height of 7.49 m if it grows at a rate of 7% per annum compoundedly.

Solution:

7.49 m = 749 cm
7 m = 700 cm

749=700(1+7/100)^t

749/700=(107/100)^t

(107/100)^1=(107/100)^t

So, time = 1 year

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