the rate percent per annum compounded annually at which the sum of 750 amounts to 2058 in 3 years is.
answer if you want to bust don't give rubish answers for points we are trying to study here.
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the rate percent per annum compounded annually at which the sum of 750 amounts to 2058 in 3 years is.
answer if you want to bust don't give rubish answers for points we are trying to study here.
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Answer:
The rate of interest is 40% per annum.
Step-by-step explanation:
Given, Principal = 750
Amount = 2058
Time taken = 3 years
We need to calculate the rate of interest.
We know that, A = P ( 1+R/100 )^n , where 'A' is the amount, 'P' is the principal, 'R' is the rate and 'n' is the time taken
2058 = 750 (1+R/100)³
2058/750 = (1+R/100)³
343/125 = (1+R/100)³
(7/5)³ = (1+R/100)³ cube and cube will get cancelled
7/5 = 1+R/100
R/100 = 7/5 - 1
R/100 = 2/5
R = 2/5 × 100
R = 40%
Therefore, The rate of interest is 40% per annum.
Hope, this helps.