Question

at what rate percent will Rs 2000 amount to 2315.25 in 3 years at compound interest?

Answer 1

2315.25(1+r/100)^3=2000
multiplying equation by 3
(1+r/100)^3=9261/8000
100+r/100=21/20
100+r=21*5
r=105-100
r=5%

Answer 2

Answer:

Rate = 5%

Step-by-step explanation:

Given : Rs 2000 amount to 2315.25 in 3 years at compound interest.

To find : What rate percent ?

Solution :

Using compound interest formula,

$A=P(1+r)^t$

Where A is the amount  A=2315.25

P is the principle P=2000    

r is the rate r=?

t is the time t= 3 years

Substitute the value,

$A=P(1+r)^t$

$2315.25=(2000)(1+r)^3$

$(1+r)^3=1.1576$

$1+r=1.05$

$r=0.05$

$r=5\%$

Therefore, Rate =5%