Question

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At what rate per cent per annum would 5,000 become 8,000 in 3-years?
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Scratch Yo​

Answer 1

We know that,

A=P(1+  100 R   )  n  

Putting the values in this formula we will get the amount

Principal is 8000

time is 3 years  rate is 3%

so,

=8000(1+  100 5  )  3 =8000×(1.05)  3

 

=8000×1.1576=9261

After 3 years he will get Rs 9261