Question

at what rate percent per annum compound interest will ₹ 3200 amount to₹ 5000 in 2 years​

Answer 1

Step-by-step explanation:

Let P = 10,000 ; A = 13310 ; n = 3 years

A = P (1 +r/100)n

13310 = 10000 * (1 +r/100)3

13310/10000 = (100+r/100)3

1331/1000 = (100+r/100)3

But , 1331 = 113 and 1000 = 103

Therefore,

(11/10)3 = (100+r/100)3

Thus, since powers are equal, bases must also be equal for the equation to be satisfied :

11/10 = 100+r/100

11* 100/10 = 100+r

110 = 100 + r

r = 110-100

r = 10%

Rate of interest = 10%