If Rs 10,000 amount to Rs 13,310 in 3 years at compound interest find the rate of interest.
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Answered by
32
The answer is 10%
FV=PV(1+r)∧n
13310 = 10000(1+r)³
(1+r)³ = 13310/10000
1+r = ∛1.331
1+r = 1.1
r = 1.1-1 = 0.1 or 10%
FV=PV(1+r)∧n
13310 = 10000(1+r)³
(1+r)³ = 13310/10000
1+r = ∛1.331
1+r = 1.1
r = 1.1-1 = 0.1 or 10%
Harsh596781:
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Answered by
7
In this question rate of intrest is 10%
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