Arithmetichard · Past Paper
At what rate percent per annum will Rs 1000 amount to Rs 1331 in 3 years if interest is compounded annually?
A10%
B11%
C12%
D15%
✓ Correct Answer: A — 10%
1331/1000 = (1+r)^3 => 1.331 = (1+r)^3 => 1.1 = 1+r => r = 0.1 = 10%.
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