Question

In what time will Rs 1000 becomes Rs 1331 at 10% per annum compounded annually?

• A. 1
• B. 2
• C. 3
• D. 4
• E. None of these

Answer 1

The correct option is C 3

$\text{Time = n}\text{Total amount =}1331=1000\times (1+\frac{10}{100}{)}^n\frac{1331}{1000}=(\frac{11}{10}{)}^{n}n=3$