Q1Moderate
A sum of ₹1,000 becomes ₹1,331 in 3 years at compound interest compounded annually. Find the annual rate of interest.
View answer & solution
Correct answer: B. 10%
Quick explanation
B — 10%. A/P = 1331/1000 = 1.331 = (1.1)³, so 1 + r/100 = 1.1 → r = 10%.
