Question

the rate
cent per
5. At what rate per
annum compound
interest, will 34000 amount to 5324 in 3 years?​

Answer 1

Amount is ₹5324

Principal is ₹4000

so,

5324= 4000(1+r/100)^3

=5324/4000=[(100+r)/100]^3

=11/10*100=100+r

=r=110-100

=r=10