Question

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

Answer 1

Solutions :-

Given :
Principle = p = Rs 2000
Amount = A = Rs 2315.25
Time = t = 3 years

Let the rate be r

To find :- Rate

We know that,

A = p(1 + r% )^t
=> 2315.25 = 2000 (1 + 0.01r)³
=> 2315.25/2000 = (1.01r)³
=> 1.157625 = (1.01r)³
=> 3√1.157625 = 1.01r
=> 1.05 = 1.01r
=> 1.05/1.01 = r = 5

Hence,
Rate = 5 % p.a

_______________________

✯ @shivamsinghamrajput ✯

Answer 2

$\huge\bf\orange{Hey \: there!!}$


▶ Question - At what rate percent will rupees 2000 amount to rupees 2315.25 in 3 years at compound interest ?


▶ Explanation :-


Given :


Principle ( P ) = Rs. 2000


Amount ( A ) = Rs. 2315.25


Time ( T ) = 3 years


According to the Question :-


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


=> 2315.25 = 2000 ( 100 + R / 100 )^3


=> ( 100 + R / 100 )^3 = 2315.25 / 2000


=> ( 100 + R / 100 )^3 = 1.157625


[ Cube becomes cube root ]


=> 100 + R / 100 = 1.05


=> 100 + R = 100 × 1.05


=> 100 + R = 105


=> R = 5 %


∴ Rate of interest = 5 %


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