Question

AMOUNT=RS.13310
PRINCIPAL=RS.10000
Time=3YEARS
RATE=??

Answer 1

Solution :

Given -

• Principal = ₹ 10000

• Amount = ₹13310

• Time = 3 Years.

• Rate = ???

To find the Rate ;-

Let the required rate be R% per annum.

Using Formula ;-

$= > A = P(1 + \frac{R}{100})^{n}$

$= > 13310 = 10000(1 + \frac{R}{100})^{3}$

$= > (1 + \frac{R}{100} ) ^{3} = ( \frac{13310}{1000} = \frac{11 \times 11 \times 11}{10 \times 10 \times 10} )$

$= > (1 + \frac{R}{100} ) = \frac{11}{10}$

$= > \frac{R}{100} = ( \frac{11}{10} - 1) = \frac{1}{10}$

$= > R = ( \frac{1}{10} \times 100) = 10\%$

Hence ,

The required rate is 10% per annum.