Question

115. In what time will Rs. 1,000 amount
to Rs. 1,331 at 10% per annum,
compounded annually ?
(A) 5 years
(B) 3 years
(C) 6 years
(D) 4 years.​

Answer 1

Answer:

Option no. (B) is correct

Answer 2

Answer:

A = p(1+r/100)^n

1331 = 1000(1 + 10/100)^n

1.331 = (1 10/100)^n

1.331 = (1.1)^ n

(1.1)^3 = (1.1)^n

n = 3

Option B = 3 Years