Question

calculate the rate of interest for which 15000 earns an intrest of 4695 in the duration of 3 years compounded annually

Answer 1

Answer:

Given:-

• principle = 15000
• compound intrest = 4695
• time = 3 years

To find:-

• rate of intrest

Solution:-

as we all know

$amount \: = principle + c.i \\ \\ amount = 15000 + 4695 \\ \\ amount = 19695 \\ \\ let \: the \: rate \: of \: intrest \: be \: \: r\% \: p.a \\ \\ here \\ time \: = 3years so \: \\ n = 3 \\ \\ using \: the \: formula \: \\ \\ a = p \times ({1 + \frac{r}{100} })^{n } \\ \\ 19695 = 15000 \times ( {1 + \frac{r}{100} })^{3} \\ \\ ( {1 + \frac{r}{100} })^{3} = \frac{19695}{15000}$

Answer 2

Answer:

amount is equals to 15

principal is equals to 4695

t is equals to 3 years

answer is 5%