1. A sum of money becomes 1.331 times in 3 years as compound interest. The rate of interest is
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By: anil on 05 May 2019 02.25 am
Let principal sum = Rs. $$x$$ and rate of interest = $$r\%$$
=> Amount after 3 years = Rs. $$1.331x$$ Amount under compound interest = $$P(1+frac{R}{100})^T$$ => $$x(1+frac{r}{100})^3=1.331x$$ => $$1+frac{r}{100}=sqrt[3]{1.331}$$ => $$frac{r}{100}=1.1-1=0.1$$ => $$r=0.1 imes100=10\%$$ => Ans - (D)
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=> Amount after 3 years = Rs. $$1.331x$$ Amount under compound interest = $$P(1+frac{R}{100})^T$$ => $$x(1+frac{r}{100})^3=1.331x$$ => $$1+frac{r}{100}=sqrt[3]{1.331}$$ => $$frac{r}{100}=1.1-1=0.1$$ => $$r=0.1 imes100=10\%$$ => Ans - (D)