Question

At what rate of percent a sum of rs. 2000 amounts to rs. 2662 at compound interest in 3 years

Answer 1

4 year is your answe

Answer 2

Answer:

Amount = 2315.25

Time = 3 years and principal = 2000

Amount = P(1+r/100)

2315.25 = 2000(1+r/100)3

2315.25/2000 = (1+r/100)3

9261/8000 = (1+r/100) power 3

Cube root 9261/8000 = 1+ r/100

21/20 = 1+ r/ 100

Now take the Lcm of 100 and cross multiply it by 21

2100/20 = 100+

105 = 100+

R = 5%

Explanation:

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