Question

if rupees 16000 amounts<br />to rupees 22781.25 in 3 years . Find the rate of interest , if the interest is compounded annually.​

Answer 1

Answer:

12.5%

Step-by-step explanation:

A = P ( 1 + r) ^ n

22781.25 = 16000 ( 1 + r) ^ 3

=> 22781.25 = ( 1 + r) ^ 3

16000

=> 1.4238 = ( 1 + r) ^ 3

=> ( 1.125 ) ^ 3 = ( 1 + r) ^ 3

=> ( 1 + 0.125 ) = ( 1 + r)

=> 0.125 = r

=> r = 12.5%