Question

at what rate percent per annum will ₹50,000 amount to ₹86,400 in 3 years,if the interest is compounded annually?​

Answer 1

Answer:

R=20%

Step-by-step explanation:

Amount=86400

principle=50000

time=3

let rate be=r

A=P×(1+R/100)^T

86400=50000×(1+R/100)^3

86400/50000=(1+R/100)^3

216/125=(1+R/100)^3

(216/125 can be written in cubes)=

cube root of 216= 6

cube root of 125= 5

216/125=(6/5)^3

(6/5)^3=(1+R/100)^3

the power three is common in both so it'll be cut out

6/5=1+R/100

6/5-1=R/100

1/5=R/100

1/5×100=R

20%=R

Answer 2

Solution:-

Required answer:-

• The required Rate of interest is 20%.

Given Information:-

• The given Principal is Rs.50000.
• The given Amount is Rs.86400.
• The given Time is 3 years.

Need to find out:-

• The required rate of interest = ?

Required Explanation:-

Let the "Rate of Interest" be "R".

Formula used here:-

• A = P(1 + R/100)ⁿ

Putting the values according to the given formula:-

=> 86400 = 50000(1 + R/100)³

=> 86400/50000 = (1 + R/100)³

=> 864/500 = (1 + R/100)³

=> 216/125 = (1 + R/100)³

=> ³√216/125 = 1 + R/100

=> 6/5 = 1 + R/100

=> 6/5 - 1 = R/100

=> 6 - 5/5 = R/100

=> 1/5 = R/100

=> 100 = 5R

=> Rate of Interest = 100/5

=> Rate of Interest = 20%

Hence:-

• The required Rate of interest = 20%

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More Information:-

In Formula,

• A is used for Amount.
• P is used for Principal.
• R is used for Rate of interest.
• N is used for Time.

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