Question

In what time will Rs 1000 amount to Rs 1331 at 10% p.a compound interest ?

Answer 1

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

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

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

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

n=3

hence 3 years