Q.Dinesh borrowed a sum of 20000rs from a finance firm and paid back 26620 in 3 years if the interest is compounded annually find the rate of interest
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Step-by-step explanation:10%
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Step-by-step explanation:
Step-by-step explanation:10%
\begin{gathered}p = 20000 \\ t = 3years \\ r = we \: have \: to \: find {?} \\ a = 26620 \\ we \: know \: a = p {(1 + \frac{r}{100}) }^{t} \\ 26620 = 20000 {(1 + \frac{r}{100}) }^{3} \\ \frac{26620}{20000} = { ( \frac{100 + r}{100} )}^{3} \\ \frac{1331}{1000} = { ( \frac{100 + r}{100} )}^{3} \\ { \binom{11}{10} }^{3} = { ( \frac{100 + r}{100} )}^{3} \\ \frac{11}{10} = \frac{100 + r}{100} \\ 10(100 + r) = 11 \times 100 \\ 1000 + 10r = 1100 \\ 10r = 1100 - 1000 \\ 10r = 100 \\ r = \frac{100}{10 } \\ r = 10\%\end{gathered}
p=20000
t=3years
r=wehavetofind?
a=26620
weknowa=p(1+
100
r
)
t
26620=20000(1+
100
r
)
3
20000
26620
=(
100
100+r
)
3
1000
1331
=(
100
100+r
)
3
(
10
11
)
3
=(
100
100+r
)
3
10
11
=
100
100+r
10(100+r)=11×100
1000+10r=1100
10r=1100−1000
10r=100
r=
10
100
r=10%
That's your answer
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