Question

In compound interest ,a certain increased from Rs.2197 to Rs.3375 in 3 years find rate of interest

Answer 1

SOLUTION

GIVEN

In compound interest ,a certain increased from Rs. 2197 to Rs. 3375 in 3 years

TO DETERMINE

The rate of interest

EVALUATION

Here it is given that in compound interest ,a certain increased from Rs. 2197 to Rs. 3375 in 3 years

A = Compound amount = Rs. 3375

P = Principal = Rs. 2197

Time = n = 3 years

Rate of interest = r%

We know that

$\displaystyle \sf{A = P { \bigg( 1 + \frac{r}{100} \bigg)}^{n} }$

$\displaystyle \sf{ \implies \: 3375 = 2197{ \bigg( 1 + \frac{r}{100} \bigg)}^{n} }$

$\displaystyle \sf{ \implies \: 2197{ \bigg( 1 + \frac{r}{100} \bigg)}^{3} = 3375 }$

$\displaystyle \sf{ \implies \: { \bigg( 1 + \frac{r}{100} \bigg)}^{3} = \frac{3375}{2197} }$

$\displaystyle \sf{ \implies \: { \bigg( 1 + \frac{r}{100} \bigg)} = \sqrt[3]{ \frac{3375}{2197} } }$

$\displaystyle \sf{ \implies \: \frac{r}{100} = \frac{15}{13} - 1 }$

$\displaystyle \sf{ \implies \: \frac{r}{100} = \frac{2}{13} }$

$\displaystyle \sf{ \implies \: r = \frac{200}{13} }$

$\displaystyle \sf{ \implies \: r = 15 \frac{5}{13} }$

Hence the required rate of interest

$\displaystyle \sf{ = 15 \frac{5}{13} \% }$

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Answer 2

Answer:

Step-by-step explanation: