Question

The sum amount to 1331 at a prnicipal of 1000 at 10% compounded annually find the time

Answer 1

Answer:

Hope you find the answer

Answer 2

The correct is "Time = 3 years". Further explanation is given below.

Step-by-step explanation:

Given:

Amount, A = 1331

Principal, P = 1000

Rate, R = 10%

then, Time, T = ?

As we know,

Amount = P$(1+\frac{R}{100})^T$

On putting the values in the above formula, we get

⇒  1331 = 1000$(1+\frac{10}{100})^T$

⇒  1331 = 1000$(\frac{100+10}{100})^T$

⇒  1331 = 1000$(\frac{110}{100})^T$

⇒  $\frac{1331}{1000} = (\frac{110}{100})^T$

⇒  $(\frac{11}{10})^3 =(\frac{110}{100})^T$

⇒   T = 3 years

Learn more:

In what time...

https://brainly.in/question/8204543