Math, asked by fathimasana66712, 1 year ago

At what rate percent per annum, will a sum of Rs 16,000 become Rs 18,522 in three years, when the interest is compounded annually '?

Answers

Answered by mysticd
8
Solution :

Given principal ( P ) = Rs 16000,

Amount ( A ) = Rs 18522

Time ( T ) = 3 years

Let the rate of interest = r%

Let the number of times Interest paid (n)=3


P( 1 + r/100 )ⁿ = A

=> ( 1 + r/100 )ⁿ= A/P

=> ( 1 + r/100 )ⁿ = 18522/16000

=> ( 1 + r/100 )ⁿ = 9261/8000

= ( 21/20 )³

=> 1 + r/100 = 21/20

=> r/100 = 21/20 - 1

=> r/100 = ( 21 - 20 )/20

=> r = 100/20

=> r = 5

Therefore ,

Rate of interest ( r ) = 5

•••••
Answered by TooFree
5

Answer:

5%


Step-by-step explanation:

Principal = Rs 16000

Sum after 3 years = Rs 18522

Period = 3


Find the rate:

Sum = P(1 + r/100)ⁿ

18522 = 16000(1 + r/100)³

(1 + r/100)³ = 9261/800

1 + r/100 = 1.05

r/100 = 0.05

r = 0.05 x 100

r = 5%


Answer: The rate is 5%

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