4. At what rate will 1,000 amount to 1,331 in 3 years if compounded an

1.	4. At what rate will 1,000 amount to 1,331 in 3 years if compounded annually?
Answer» $\huge\mathfrak\red{answer \: \: \: \: \: \: \: \: ✎}$ Given: Principal = P = 1000 ₹ period = N = 3 years Amount = A = 1331 ₹ To find : Rate = R Solution: Amount = $p[1 + [{ \frac{r}{100} }]^{3}$ $: \: 1331 = 1000 \: [1 + { \frac{r}{100}] }^{3}$ $\frac{1331}{1000} = [1 + { \frac{r}{100} ]}^{3}$ Taking value ROOT on both sides, $\frac{11}{10} = 1 + \frac{r}{100} ⇒ \frac{r}{100} = { \frac{11}{10} }^{ - 1}$ $\frac{r}{100} = \frac{11 - 10}{10} ⇒r = \frac{1}{10} \times 100$ $: \: r = 10\%$ Answer: Hence the rate of the intersast is 10% P.a. ✎﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏ I hope you have helped with this answer. ✎﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏﹏ {Please do not REPORT if the answer is WRONG, we have tried our best to give you the correct answer} $\sf \colorbox{gold} {\red(ANSWER ᵇʸ ⁿᵃʷᵃᵇ⁰⁰⁰⁸}$