Question

A sum of money becomes 8 times of itself in 3 years at
compound Interest. What is the rate of Interest?

Answer 1

Answer:

hope it is helpful to u if u have any doubt please tell me i will try to explain it more briefly

Answer 2

Answer:

100%

Step-by-step explanation:

Let principal = 1 unit

∴Amount=1×8 = 8 units

According to the question,

principal amount

for third year = 1 : 8

for first year = ³√1 : ³√8

Required Rate %=11×100=100 %