At what rate per cent per annum will Rs 9, 000 after 3 years amount to Rs 11, 430?
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1
Answer:
A = Rs.3993, P = Rs.3000, n = 3, r = ?
∴A=P(1+
100
r
)⇒3993=3000(1+
100
r
)
3
⇒
3000
3993
=(1+
100
r
)
3
⇒
1000
1331
=(1+
100
r
)
3
⇒(
10
11
)
3
=(1+
100
r
)
3
⇒1+
100
r
=
10
11
⇒
100
r
=
10
11
−1=
10
1
∴r=
10
100
=10%p.a.
Step-by-step explanation:
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