In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?  Choose the correct choice from the following choices.
A) 7years
B) 6years
C) 3years
D) 9years
E) 2years
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   Answer: 3years
<result>C</result>
In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?