Question

find the rate of compound interest pre annum at which rs25000 will amount to rs43200 in 3 years

Answer 1

A = p ( 1 + r%)ⁿ

⇒ 43200 = 25000(1 + r%)³

⇒ 43200/25000 = (1 + r%)³

⇒ 21600/12500 = ( 1+ r%)³

⇒ (60/50)³ = ( 1+ r% )³

⇒ 60/50 = (100 +r)100

⇒ 120 - 100 = r

∴ r = 20%

ok

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