Question

At what rate per cent per annum will Rs 50,000 amount to Rs 86,400 in 3 years, if the
interest is compounded annually?​

Answer 1

Given :-

• Principal ( P ) = Rs 50,000

• Amount ( A ) = Rs 86,400

• Time ( T ) = 3 years

To find :-

• Rate of percent .

Solution :-

• Principal ( P ) = Rs 50,000

• Amount ( A ) = Rs 86,400

• Time ( T ) = 3 years

we know that

A = P (1 + R/100)ⁿ

• By the question

➡ A = P (1 + R/100)ⁿ

➡ 86400 = 50000 (1 + R/100)³

➡ 86400/50000 = (1 + R/100)³

➡ 864/500 = (1 + R/100)³

➡ 216/125 = (1 + R/100)³

➡ (6/5)³ = (1 + R/100)³

➡ 6/5 = 1 + R/100

➡ 6/5 - 1 = R/100

➡ 1/5 = R/100

➡ R = 20 %

∴ The rate of i nterest is 20 %

Answer 2

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