IF RS.3125 INVESTED FOR 3 YRS GIVES A COMPOUND INTEREST OF RS.1265.40,FIND THE RATE PERCENT PER ANNUM
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p=3125
n=3
ci = 1265.4
ci = A-p
A = ci+p
=1265.4+3125 = 4390.4
A =p(1+r)ⁿ
= 3125(1+r)³ = 4390.4
(1+r)³ = 4390.4/3125
1+r =1.12
r =.12 =12%
Answered by
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Answer:
p=3125
n=3
ci = 1265.4
ci = A-p
A = ci+p
=1265.4+3125 = 4390.4
A =p(1+r)ⁿ
= 3125(1+r)³ = 4390.4
(1+r)³ = 4390.4/3125
1+r =1.12
r =.12 =12%
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