Question

At what rate percent will a sum of rupees 4000 yield rupees 1324 as compound interest in 3 years

Answer 1

Heya ✋

Let see your answer !!!!

Given that

C.I. = ₹1,324

P = 4,000

T = 3 years

R = ?

Solution

When the interest is compounded annually

A = P + C.I.

= ₹(1,324 + 4,000)

= ₹5,324

A = P(1 + R/100)^n

=> 5,324 = 4,000(100 + R/100)^3

=> 5,324/4,000 = (100 + R/100)^3

=> 1,331/1,000 = (100 + R/100)^3

=> √1,331/√1,000 = 100 + R/100

=> 11/10 = 100 + R/100

=> 11 × 100 = 10(100 + R)

=> 1,100 = 1,000 + 10R

=> 1,100 - 1,000 = 10R

=> 100 = 10R

=> R = 100/10

=> R = 10 % p.a.









Thanks :))))