Question

At what rate per cent will a sum of rupees 64,000 be compoud to rupees 68,921 in three year ? ​

Answer 1

Step-by-step explanation:

Heya friend,

Given that

P = ₹64,000

A = ₹68,921

T = 3 years

Solution

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

=> 68,921 = 64,000(100+R/100)^3

=> 3√68,921/64,000 = 100+R/100

=> 41/40 = 100+R/100

=> 41 × 100 = 40(100+R)

=> 4,100 = 4,000+ 40R

=> 4,100 - 4,000 = 40R

=> 100 = 40R

=> R = 100/40

=> R = 5/2 % p.a. or 2.5% p.a.

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