Question

in what time will rs 1000 amount to rs 1331 at 1% p.a

Answer 1

Let the required time be n years, Then,

1331=1000\left ( 1+\frac{10}{100} \right )^{n}

=>\frac{1331}{1000}=\left ( \frac{10+1}{10} \right )^{n}

=>\left ( \frac{11}{10} \right )^{n}=\left ( \frac{11}{10} \right )^{3}

=>n=3

Hence option [B] is the right answer.