Question

at what rate will a sum of rupees 3200 produced at interest of rupees 672 in year if compounded annually​

Answer 1

Answer:

tr

Step-by-step explanation:

Answer 2

Answer:

The rate of interest will be 21%

Step-by-step explanation:

In this question

We have been given that

Rs.3200 produced interest of Rs.672 if compounded annually

We need to find the rate of interest.

We know that,

Compound Interest = Amount - Principle

Here Compound interest = Rs.672

         Principle = Rs.3200

         Time = 1 year

Therefore, Amount = 3200 + 672

                  Amount = Rs.3872

We also know that

$Amount\ =\ Principle(1\ +\ \frac{r}{100})^{t}$

$3872\ =\ 3200(1\ +\ \frac{r}{100})^{1}$

$\frac{3872}{3200}\ =\ 1\ +\ \frac{r}{100}$

$\frac{3872}{3200}\ -\ 1\ =\ \frac{r}{100}$

$\frac{3872-3200}{3200}\ =\ \frac{r}{100}$

$\frac{672}{3200}\ =\ \frac{r}{100}$

$\frac{672}{32}\ =\ r$

r = 21%

Therefore, rate of interest = 21%