In how many years will a sum of Rs. 10,000 become Rs. 13,310 at 10% compound interest per annum, compounded annually?

Correct option is D

Given:

Principal = Rs. 10000

Amount  = Rs. 13310

Rate of interest = 10% per annum

Formula used:

$$A=P(1+\frac{R}{100})n$$​​

Where, A = Amount,

C.I = Compound Interest, 

P = Principle,

r = Rate of interest

and n = Time.

Calculation:

​$$=> 13310=10000(1+\frac{10}{100})^n\\\ \\=>\frac{13310}{10000}=(\frac{11}{10})^n\\\ \\=>(\frac{11}{10})^3=(\frac{11}{10})^n\\\ \\=> n = 3$$​​

Hence, after 3 yearsthe sum of Rs. 10,000 become Rs. 13,310.