Question

the C.I on Rs 16000 for 3 years is Rs 6781.25. find the rate per cent per annum.

Answer 1

amount=P[1+r/100]^n
16000+6781.25=16000[1+r/100]³
22781.25/1600=[1+r/100]³
2278125/160000=[1+r/100]³
91125/6400=[1+r/100]³
3645/256=[1+r/100]³
now after solving we get r as a decimal value

Answer 2

Answer:

The rate percent per annum is 12.5%.

Step-by-step explanation:

Given,

Compound Interest, CI = 6781.25

Principle, P = 16,000

Time, t = 3 years

Rate, R =?

We know that,

Compound Interest = Amount - Principle

CI = A - P

A = CI + P

A = 6781.25 + 16,000

A = 22781.25

and,

$A = P\large(1 + \frac{R}{100} )^T\\\\\implies 22781.25 = 16000\times (1+\frac{R}{100})^3\\ \\\implies \frac{22781.25}{16000} = (1+\frac{R}{100})^3\\\\\implies 1.42383 = (1+\frac{R}{100})^3\\\\\implies \sqrt[3]{1.42383} = 1+\frac{R}{100}\\ \\\implies 1.125 = 1+\frac{R}{100}\\\\\implies \frac{R}{100} = 0.125\\\\\implies R = 12.5\%$

Hence, the rate percent per annum is 12.5 %.

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