A) 3
B) \[2\frac{1}{2}\]
C) 2
D) \[1\frac{1}{2}\]
Correct Answer: C
Solution :
According to question, \[2420=2000{{\left( 1+\frac{10}{100} \right)}^{t}}\] \[\frac{2420}{2000}={{\left( \frac{11}{10} \right)}^{t}}\] \[\Rightarrow \] \[{{\left( \frac{11}{10} \right)}^{t}}=\frac{121}{100}\]\[\Rightarrow \]\[{{\left( \frac{11}{10} \right)}^{t}}={{\left( \frac{11}{10} \right)}^{2}}\] \[\therefore \] \[t=2\,\,\text{yr}\]
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