1.

At what rate per cent per annum will Rs 1000 amount to Rs 1728 in 3 years? The interest is compounded yearly.

Answer»

20 %



R = 100 [(A/P)1/t - 1]% pa
= 100[(1728/1000)1/3 - 1]
= 100[{(12/10)3}1/3 - 1]
= 100 [12/10 - 1]
= 100 X 2/10
= 20% p.a.



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