Inverse Problems on Compound Interest - Rate
Inverse Problems on Compound Interest - Finding Rate
In this section, we shall discuss how to compute interest rate percent per annum when compound interest , Amount , Principal and time period is given.
Illustration: At what rate percent per annum, compound interest will Rs 10000 amount to Rs 13310 in three years?
Solution: Let the rate be R% per anum.
We have, P = Principal = Rs 10000, A = amount = Rs 13310 and n = 3 years
Taking cube root on both sides, we have
Hence, rate = 10% per annum.
Find the rate at which a sum of money will double itself in 3 years, if the interest is compounded annually. | |||
| Right Option : B | |||
| View Explanation | |||
At what rate percent per annum, compound interest will Rs 10000 amount to Rs 17280 in three years? | |||
| Right Option : D | |||
| View Explanation | |||
Find the rate percent per annum if Rs 2000 amount to Rs 2662 in | |||
| Right Option : D | |||
| View Explanation | |||
Students / Parents Reviews [20]
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8thAbhyas institute is one of the best coaching institute in the vicinity of Ambala cantt.The institute provides good and quality education to the students.The teachers are well experienced and are very helpful in solving the problems. The major advantages of the institute is extra classes for weak...
