Question

In what time will Rs. $1000$ amount to Rs. $1331$ at $10\%$ p.a. in CI?

• A. $4$ years
• B. $3$ years
• C. $2$ years
• D. $1$ year

Answer 1

The correct option is B $3$ years

Given, $A=$ Rs. $1331,P=$ Rs. $1000,R=10\%$

Let the time is $t$ years

$1331=1000{(1+\frac{10}{100})}^t$
$\frac{1331}{1000}={\left(\frac{11}{10}\right)}^t$
${\left(\frac{11}{10}\right)}^3={\left(\frac{11}{10}\right)}^t\Rightarrow t=3$ years