Question

At what rate per cent per annum will rupees 3000 amount to Rupees 3993 in 3 years, the interest being compounded annually?

Answer 1

Heya ✋

Let see your answer !!!!

Given that

P = ₹3,000

T = 3 years

A = ₹3,993

R = ?

Solution

When the interest is compounded annually

A = P(1 + R/100)^n

=> 3,993 = 3,000(100 + R/100)^3

=> 3,993/3,000 = (100 + R/100)^3

=> 1,331/1,000 = (100 + R/100)^3

=> 3√1,331/1,000 = 100 + R/100

=> 11/10 = 100 + R/100

=> 11 × 100 = 10(100 + R)

=> 1,100 = 1,000 + 10R

=> 1,100 - 1,000 = 10R

=> 100 = 10R

=> R = 100/10

=> R = 10 % p.a.





Thanks :))))

Answer 2

Answer:

here is your anwer

rate is 10%