Question

At what rate per cent per annum will Rs 3000 amount to Rs 3993 in 3 years,the interest being compounded annually? please answer!!!!​

Answer 1

Answer:At what percent per annum will Rs. 3000/- amounts to Rs. 3993/- in 3 years if the interest is compounded annually? Hence option [B] is the right ansewr.

P = Rs. 3000 , A = Rs. 3993 , n = 3 years

A = p \left ( 1+\frac{r}{100} \right )^{n}

\therefore \left ( 1 + \frac{r}{100} \right )^{n} = \frac{A}{P}

=>\left ( 1+\frac{r}{100} \right )^{3} = \frac{3993}{3000} = \frac{1331}{1000}

=>\left ( 1+\frac{r}{100} \right )^{3} = \left ( \frac{11}{10} \right )^{3}

=>1+\frac{r}{100} = \frac{11}{10}

=>\frac{r}{100} = \frac{11}{10}-1

=> \frac{r}{100} = \frac{1}{10}

=> r = \frac{100}{10} = 10\%

Step-by-step explanation:10 percent is the correct answer

Answer 2

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Answer =10%