Question

find the rate of the compound interest per annum at which 25000 will amount of the 43200 in 3 years​

Answer 1

Step-by-step explanation:

Given: Amount = 43200

Principal = 25000

Time = 3 years

Since

$a = p {(1 + \frac{r}{100}) }^{t}$

$43200 = 25000 {(1 + \frac{r}{100}) }^{3}$

$\frac{43200}{25000} = {(1 + \frac{r}{100} )}^{3}$

$\frac{216}{125} = {(1 + \frac{r}{100}) }^{3}$

${( \frac{6}{5} )}^{3} = {(1 + \frac{r}{100} )}^{3}$

$\frac{6}{5} = 1 + \frac{r}{100}$

$\frac{r}{100} = \frac{6}{5} - 1$

$\frac{r}{100} = \frac{1}{5}$

$r = 20\%$

Hence, Rate = 20%