Question

Calculate the rate of interest for which RS 15000 earns an interest of RS 4695 in the duration of 3 years Compounded annually
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Answer 1

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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.iamount=15000+4695amount=19695lettherateofintrestber%p.aheretime=3yearsson=3usingtheformulaa=p×(1+100r)n19695=15000×(1+100r)3(1+100r)3=1500019695

Answer 2

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