Question

In what time will rs 1000 become rs 1331 at 10 per annum compounded annually

Answer 1

Answer:

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Answer 2

Answer:

Explanation:

Explanation:

Principal = Rs.1000;

Amount = Rs.1331;

Rate = Rs.10%p.a.

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