At what rate percent compound interest per annum will Rs.1,250 will amount to Rs.2,160 in 3 years?
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Answered by
11
Principal=₹1250
time=3yrs
amount=₹2160
let rate=R
Amount=P(1+R/100)^n
2160=1250(1+R/100)^3
(1+R/100)^3=2160/1250
(1+R/100)^3=216/125
(1+R/100)^3=(6/5)^3
(1+R/100)^3=(6/5)^3
on LHS and RHS there are power so it will be cancel out
(1+R/100)=6/5
R/100=6/5-1
R/100=1/5
R=1/5×100
R=1×20
R=20%
rate =20%
Answered by
3
Answer:49.4%
Step-by-step explanation:
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