Question

at what rate percent per annum will the compound interest wilh rs 10000 amount to 13310 in three rears

Answer 1

CI = 13310

Principal = 10000

Rate = Have to find

Time = 3 years

CI = P (1+r/100)^t

13310 = 10000 (1+r/100)³

1331/1000 = (1+r/100)³

taking cube roots on both the sides

∛1331/1000 = ∛(1+r/100)³

11/10 = 1+r/100

11/10 - 1 = r/100

1/10 = r/100

r = 100/10

r = 10%

so Rate we got as 10% per annum

Answer 2

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