Question

In what time Rs 1000 amounts to Rs 1331 at 10% per annum compounded annually ?

Answer 1

$1331 = 1000(1 + \frac{10}{100} ) ^{n} \\ \frac{1331}{1000} = (1 + \frac{1}{10} ) {}^{n} \\ \\ \frac{1331}{1000} = ( \frac{11}{10} ) ^{n} \\ ( \frac{11}{10} ) ^{3} = ( \frac{11}{10} ) ^{n} \\ n = 3 \: years$

Answer 2

Answer:

3 years

Step-by-step explanation:

Given : P = Rs1000 , A = Rs 1331 , R = 10%

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

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

=> 1331/1000 = (110/100)^n

=> (11/10)^3 = (11/10) ^n

n = 3 yrs