In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually
Principal = Rs.1000;
Amount = Rs.1331;
Rate = Rs.10%p.a.
Let the time be n years then,
1000(1+10/100)^n=1331
(11/10)^n=1331/1000
$(1110)^3$=1331/1000
So answer is 3 years
In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually
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