Question

At what rate percent per annum compound interest on Rs3000 amount to Rs.4000 in 2years?​

Answer 1

Explanation:

now find the value of R

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Answer 2

Amount (A)= ₹ 4 000/-
Principal(P)= ₹ 3 000/-
Time (T)= 2 years
Therefore according to problem;
A= P(1+R/100)^T ; where R is the rate per cent per annum
=> 4 000= 3 000 (1+R/100)^2
=> 4 000/ 3000 = (1+R/100)^2
=> 4/3= (1+R/100)^2
=> (2/1.732)^2=(1+R/100)^2
=>(1+ R/100)= 2/1.732= ( 2* 1000 )/ 1732
=> R/100= (2000/1732)-1
=> R/100= 268/1732
=> R= (268/1732)* 100
=> R= 15.473...
Therefore, Rate of Interest = 15.4 % per annum (approx.) [Answer.]

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