Question

At what rate percent per annum will a sum of Rs. 10,000 amount to Rs. 14,641 in 4 years compounded annually?

Answer 1

Answer:

rate = 10%

Step-by-step explanation:

Let the required rate be R% per annum

A = 14641, P = Rs. 10000

We know that A = P (1 + R/100)n 14641 = 10000 (1 + R/100)4

Or 14641/10000 = (1 + R/100)4 or (11/10)4 = (1 + R/100)4

Or 11/10 = 1 + R/100 or 11/10 -1 = R/100

Or (11 -10)/10 = R/100 or 1/10 = R/100

Or 100/10 = R or 10 = R or R = 10% p.a.

if you like my answer please thanks me