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Q:
A) 1years | B) 2years |
C) 3years | D) 4years |
Answer: C) 3years
Explanation:
Explanation:
Principal = Rs. 1000; Amount = Rs. 1331; Rate = 10% p.a. Let the time be n years. Then,
[ 1000 (1+ (10/100))^n ] = 1331 or (11/10)^n = (1331/1000) = (11/10)^3
n = 3 years