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At what rate % p.a will a sum of Rs4000 yield 1324 as compound interest in 3 yrsHint: Use the formula of compound interest to get the rate of interest.The correct answer is: 10%Complete step by step solution:We know that compound interest = Total amount - principal amount that is, CI = A - P …(i)We know that …(ii)Here, we have T = 3 years, P = 4000 and R = ?On substituting the known values in (ii), we get Given that CI = 1324,On substituting the known values in (i), we get On adding 4000 on both the sides, we have Divide on both sides by 4000.On dividing we have, So, at 10% pa per annum will a sum of Rs 4000 yield 1324 as compound interest in 3 years.
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At what rate per cent will a sum of 4000 yield compound interest of 410 in 2 years?∴ Rate =5% p.a.
At what rate percent will a sum of rupees 4000 rupees?The correct answer is 5.
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At what rate percent will a sum of 4000 rupees 1324 as compound interest in 3 years
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