Question

In what time will rs 1000 become rs1331 at 10 per annum compounded annually

Answer 1

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

Answer 2

Explanation:

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