Question

at what rate per cent will a sum of ₹64,000 be compounded to₹68,921 in three years?

Answer 1

Answer:

Step-by-step explanation:

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

68921 = 64000 (1+ R/100)³

68921/64000 = (1+R/100)³

(41/40)³ = (1+R/100)³

[68921= 41³, 64000= 40³]

41/40 = (1+R/100)

41/40 - 1= R/)/40 = R/100

1/40 = R/100

40R= 100

R= 100/40= 10/4= 5/2= 2.5%

R= 2.5%

Rate percent = 2.5%

Answer 2

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