The compound interest on Rs. 1000 at 10% p.a. in 3 years is :

The compound interest on Rs. 1000 at 10% p.a. in 3 years is :
Posted on 27-04-2023

Ques - The compound interest on Rs. 1000 at 10% p.a. in 3 years is :

(a) 331

(b) 1331

(c) 133

(d) 300

Solution - 

Given,

P = 1000

R = 10%

T = 3

A = P (1 + (r/100))n

A = 1000 (1 + (10/100))3

A = 1000 ((11/10))3

A = 1000 (1331/1000)

A = 1331

C.I. = Amount - Principal

C.I. = 1331 - 1000

C.I. = 331

The compound interest is 331.

Hence,

The correct answer is option (a) 331.

Thank You