in how mjch time sum of Rs 1000 amont to get Rs1331 at 10%p.a compounded annualy?
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Answer:
Given:-
P=Rs 1000
R=10%p.a.
Time=?
Amount =Rs1331
A=P(1+R/100)^n
1331=1000(1+10/100)^n
1331/1000=(1+1/10)^n
(11/10)^3=(11/10)^n
3=n
Hence, Time=3years
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