Question

At what percent p.a. will the compound interest on `27000 become `5768 in 3 years?

Answer 1

Answer:

Rate :-2/30

Step-by-step explanation:

A=p(1+r/n)^nt

A=p+C.I.

given p=27000

C.I.=5768

t=3years

n=1

r=?

A=27000+5768=32768

put in formula

32768=27000(1+r/1)^3

32768/27000=(1+r)^3

(32/30)^3=(1+r)^3

32/30=1+r

r=32/30 -1

r=2/30