Question

At what rate percent will a sum of Rs 8000 amounts to Rs. 15625 in 3 years if the interest is compounded annually?​

Answer 1

Answer:

Step-by-step explanation:

Answer 2

Answer:

r = 25 %

Step-by-step explanation:

given,

sum of amount, A = Rs 8000

Amount after 3 years,P = Rs. 15625

rate of interest,r = ?

Using formula of compound interest

 $P = A (1 +\dfrac{r}{100})^t$

 $15625= 8000(1 +\dfrac{r}{100})^3$

 $(1 +\dfrac{r}{100})^3=1.953$

 $1 +\dfrac{r}{100}=1.25$

 $\dfrac{r}{100}=0.25$

      r = 0.25 x 100

      r = 25 %

rate of interest is equal to 25%