Question

3. What sum will become 1331 after 3 years at 10% pa. compound interest?​

Answer 1

Answer:

3 years

Step-by-step explanation:

Principal = Rs. 1000; Amount = Rs. 1331; Rate = 10% p.a. Let the time be n years. Then,

[ 1000 (1+ (10/100))^n ] = 1331 or (11/10)^n = (1331/1000) = (11/10)^3

n = 3 years

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