In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually
Question 1:
In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually
A.2 Years
B.3 Years
FeedbackPrincipal = Rs.1000; Amount = Rs.1331; Rate = Rs.10%p.a. Let the time be n years then, 1000(1+10/100)^n=1331 (11/10)^n=1331/1000 (11/10)^3=1331/1000 So answer is 3 years
C.4 Years
D.5 Years
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