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    Question

    Determine the rate of interest for a sum that becomes

    (64/27) times of itself in 3 years compounded annually.
    A 33(1/3)% Correct Answer Incorrect Answer
    B 20% Correct Answer Incorrect Answer
    C 15% Correct Answer Incorrect Answer
    D 63(1/2)% Correct Answer Incorrect Answer

    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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