if the compound interest on ₹90000 for 3years is ₹29790 the rate of interest per annum is
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Principal (P)= ₹90000
Cl= ₹29790
A=₹90000+₹29790=₹119790
Rate of Interest=?
A=P(1+R/100)^n
119790=90000(1+R/100)³
119790/90000=(1+R/100)³
11979/9000=(1+R/100)³
1.331=(1+R/100)³
(1.1)³=(1+R/100)³
1.1=1+R/100
110=100+R
R=110-100
R=10
Therefore, Rate of interest per annum is 10%
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