At what rate percent per annum will Rs.4500 amount to Rs.5715 in 3 years?
Answers
The rate percent per annum is 8.2%.
Step-by-step explanation:
To find : At what rate percent per annum will Rs.4500 amount to Rs. 5715 in 3 years ?
Solution :
Using amount formula,
Where, A is the amount A=Rs.5715
P is the principal P=Rs.4500
Time t=3 years
r is the interest rate
Substitute the value in the formula,
Taking cube root both side,
Therefore, the rate percent per annum is 8.2%.
Answer:
8.2
Step-by-step explanation:
Using amount formula,
A=P(1+\frac{r}{100})^tA=P(1+
100
r
)
t
Where, A is the amount A=Rs.5715
P is the principal P=Rs.4500
Time t=3 years
r is the interest rate
Substitute the value in the formula,
5715=4500(1+\frac{r}{100})^35715=4500(1+
100
r
)
3
\frac{5715}{4500}=(1+\frac{r}{100})^3
4500
5715
=(1+
100
r
)
3
1.27=(1+\frac{r}{100})^31.27=(1+
100
r
)
3
Taking cube root both side,
\sqrt[3]{1.27}=1+\frac{r}{100}
3
1.27
=1+
100
r
1.082=1+\frac{r}{100}1.082=1+
100
r
1.082-1=\frac{r}{100}1.082−1=
100
r
r=0.082\times 100r=0.082×100
r=8.2\%r=8.2%