Question

Calculate the rate of interest for which 15000rupees earns an interest of 4695rupees in the duration of 3 year compounded annually

Answer 1

Answer:

Given:-

principle = 15000

compound intrest = 4695

time = 3 years

To find:-

rate of intrest

Solution:-

as we all know

\begin{gathered}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} \\ \\ \end{gathered}

amount=principle+c.i

amount=15000+4695

amount=19695

lettherateofintrestber%p.a

here

time=3yearsso

n=3

usingtheformula

a=p×(1+

100

r

)

n

19695=15000×(1+

100

r

)

3

(1+

100

r

)

3

=

15000

19695