Question
Hema invested ₹1,728 at the rate of compound interest
(Compounded annually) for 3 years. She got ₹4,096 after the specified period. Find the rate of interest per annum.Solution
A=P(1+r/100)3 4096/1728 =(1+r/100)3 64/27 =(1+r/100)3 1+r/100=4/3 r/100= (4/3)-1=1/3 r =100/3 =33.33% =33(1/3)%
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