Question

Find the rate of interest compounded per annum for 3 years so that 4000 becomes

4635.50​

Answer 1

Answer:

Let principal = P, n=4, r = 6%, C.I = 525

We know that

P=P+525(1+r)n⇒P=525+P(1+.06)4⇒P=525+P(1.06)4⇒P(1.06)4=525+P⇒[P(1.06)4–1]=525⇒P=525(1.06)4–1=2019.23

To find the rate

When P, n, A are given

We have to find r by using the same formula

A=P(1+r)n

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