Correct Answer - Option 3 : 3 years

**Given**

Rate = 10% per annum

Principal = Rs. 45,000

Amount = Rs. 59,895

**Formula used**

A = P[1 + r%]^{t}

Where A, P, r and t are Amount, Principal, Rate and Tine respectively

**Calculation**

59,895 = 45000[1 + (10/100)]^{t}

⇒ 59,895/45,000 = (110/100)^{t}

⇒ 1331/1000 = (11/10)^{t}

⇒ (11/10)^{3} = (11/10)^{t}

⇒ t = 3

**∴ Time is 3 years**