Question

A t what rate% per annum will a sum of rs4000 yield rs1324 as compound interest in 3 years​

Answer 1

Answer:

rate % = 10%

Step-by-step explanation:

let the percentage be r%

amount = 4000+ 1324 = 5324

now we know

P[1+(r/100)]^3 = Amount

4000[1+(r/100)] = 5324

4000 x [(100 + r )/ 100]^3 = 5324

[(100 + r )/ 100]^3 = 5324/4000

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

100 + r /100 = 11/10

100 + r = 110

r = 110-100

r = 10