Question
Determine the rate of interest for a sum that becomes
(64/27) times of itself in 3 years compounded annually.Solution
Given, Amount = 64/27 P We know that: A/P = (1 + R/100)n 64/27 = (1 + R/100)3 (4/3)3 = (1 + R/100)3 (4/3)= (1 + R/100) 4/3 - 1 = R/100 1/3 = R/100 R =  33(1/3)%
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