When a sum of 10000 is compounded annually 13310 is obtained after 3 years find the rate of interest?

Correct Answer:

Description for Correct answer:

\( \Large A=P \left(1+\frac{1}{100}\right)^{3}\)\( \Large \frac{1331}{1000}= \left(1+\frac{R}{100}\right)^{3}\)\( \Large\left(\frac{11}{10}\right)^{3}= \left(1+\frac{R}{100}\right)^{3} \)\( \Large \frac{11}{10}-1=\frac{R}{100} \)\( \Large \frac{R}{100}=\frac{1}{10} \)

R= 10%

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find the amount and compound interest on rupees 28000 for one year at the rate of 10% per annum compounded half yearly

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