if 10000 amounts to rupees 13310 in 3 years at compound interest find the rate of interest
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Answer: the rate of interest is 10% .
Step-by-step explanation:according to the formula .
Amount=principal (1+rate/100)^time
13310=10000 (1+rate/100)^3
13310/10000=(1+rate/100)^3
1331/1000=(1+rate/100)^3
(11/10)^3=(1+rate/100)^3
The powers get cancelled each other .
11/30=(1+rate/100)
11/30-1=rate/100
1/10=rate/100
therefore the rate is 10%
HOPE IT HELPS ..
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