Question

3.
Kabir borrowed Rs. 15,625 from the Indian bank. He returned Rs.17,576 after
3 years. What was the rate of interest charged by the bank?
​

Answer 1

Answer:

This is right ans..

t = 3 years

Step-by-step explanation:

Formula for calculating the compound interest = A = P (1 + r/100)t

Where, A = Amount after ‘t’ time

P = principal amount

r = rate of compound interest

t = time

Now, according to the question,

17576 = 15625 (1 + 4/100)t

⇒ 17576/15625 = (26/25)t

⇒ (26/25)t = (26/25)3

⇒ t = 3 years