1.

How much is the compound interest on Rs. 1000 at 10% interest in 3 years?1. Rs. 3312. Rs. 13313. Rs. 1334. Rs. 313

Answer» Correct Answer - Option 1 : Rs. 331

Given:

Principal = Rs. 1000

Rate = 10%

Time = 3 years

Formula Used:

Compound Interest = \(P( 1 + {R \ \over 100})^T - P\)

Calculation:

C.I = P (1 + \( {10 \ \over 100}\))T - P

⇒ 1000 × (\( {11 \ \over 10}\))3 - 1000

⇒ 1331 - 1000

⇒ Rs.331

∴ The required compound interest is Rs 331



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