In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually?  Choose the most appropriate option
A) 2 years
B) 3 years
C) 4 years
D) 7 years
E) None
Solution   Principal	= Rs.1000;   Amount	= Rs.1331;   Rate	= Rs.10%p.a.   Let the time be n years.Then   [1000(1+10/100)Λn;]   = 1331.   = (1331/1000)   = (11/10)³   Therefore n = 3 years.   Answer 3 years
<result>B</result>
In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually?