At what rate % per Annum will a sum of ₹13700 invested for 3 years amounts to ₹16577
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Answered by
1
Answer:
7%
Step-by-step explanation:
P=13,700
Rate =R
T=3
A=16,577
A=P(1+
100
RT
)
⇒16577=13,700(1+
100
R×3
)
⇒
13700
16577
=1+
100
3R
⇒1.21=1+
100
3R
Hence, Rate =7%
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