Question

Q.15. At what rate percent per annum the sum of rupees 2400 amount to rupees 4147.20 compounded annually for 3 years?​

Answer 1

Given :  sum of rupees 2400 amount to rupees 4147.20 compounded annually for 3 years

To Find :   rate percent per annum

Solution:

A = P( 1 + R/100)ⁿ

A = 4147.20

P = 2400

R =?

n = 3

=>  4147.20 = 2400 ( 1  + R/100)³

=>  ( 1  + R/100)³ =  1.728

=> 1 + R/100 = 1.2

=> R/100 = 0.2

=> R = 20

rate percent per annum = 20

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Answer 2

Given : Sum of rupees 2400 Amount to rupees 4147.20 compounded annually for 3 years.

To Find : Rate percent per annum, R

Solution:

From the given statement :

Principal , P = ₹ 2400

Amount, A = ₹ 4147.20

Time period, n = 3 years

Using the formula,

A = P(1 + R/100)ⁿ

4147.20 = 2400 (1 + R/100)³

4147.20 / 2400 = (1 + R/100)³

172.8 / 100 = (1 + R/100)³

1.728 = (1 + R/100)³

(1 + R/100) = ³√1.728

1 + R/100 = 1.2

R/100 = 1.2 - 1

R/100 = 0.2

R = 0.2 × 100

R = 20 %

Rate percent per annum, R = 20%

Hence, the rate percent per annum is 20 %.

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