Question

at what rate percent p.a. will a sum of rupees 4000 rupees 1324 as compound interest in 3 years​

Answer 1

Step-by-step explanation:

A= P(1+r/n)nt

we know Anibal amount A= 4000

rate of interest is 1323

time is 3 y

substitute the value in formula

4000=p(1+1324/3) *3

4000=(1+441.33)*3

4000= (442.33)*3

4000 =p(1326.99)

4000/1326.99=p

p= 3.01

Initially principal balance is 3.01