Question

10,000 is compounded annually and ₹ 13,310 is obtained after 3 years. Find the rate of interest.

Ans is given 10 % per annum

Answer 1

13310 = 10000 (1+r/100)^3

13310/10000 = (1+r/100)^3

1331/1000 = (1+r/100)^3

applying cube root both sides

11/10 = 1+r/100

11/10 - 1 = r/100

1/10 = r/100

r = 100/10

r = 10%

Answer 2

Answer:

10% p.a.

Step-by-step explanation:

Given,

Principal = ₹10000

Amount = ₹13310

Time = 3 years

Rate of interest = ?

Amount = Principal {1+R/100}^time

13310 = 10000 { 1+R/100} ^3

13310/10000 = { 1+R/100 } ^3

1331/1000 = {1+R/100} ^3

(11/10)^3 = {1+R/100} ^3

11/10 = {1+R/100}

11/10 - 1 = R/100

1/10 = R/100

1*100/10 = R

10 = R

So, Rate % = 10%

Hope this helps...