In how many years Rs. 100000 will become Rs. 1,33,100 at compound interest rate of 10% per annum? Option 1: 2 years Option 2: 3 years Option 3: 4 years Option 4: 5 years

Answer: 3 years. Solution: Using A = P(1+r)^n, we get 133100/100000 = (1.1)^n, so (1.1)^n = 1.331. Since 1.1^3 = 1.331, the required time is 3 years.

Arithmetic

Simple & Compound Interest

Easy

In how many years Rs. 100000 will become Rs. 1,33,100 at compound interest rate of 10% per annum?

2 years

3 years

4 years

5 years

✅ Correct Option: 2

Using $A = P(1+r)^n$ , we get $\dfrac{133100}{100000} = (1.1)^n$ , so $(1.1)^n = 1.331$ .

Since $1.1^3 = 1.331$ , the required time is $3$ years.

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Which of the following statements is / are correct?

In how many years Rs. 100000 will become Rs. 1,33,100 at compound interest rate of 10% per annum?

Solution

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