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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.
= (1331/1000) = (11/10)3
Therefore n = 3 years.
Hence, option 2 is the correct answer.
By: Amit Kumar ProfileResourcesReport error
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