At What Percent Annual Compound Interest Rate :

At what percent annual compound interest rate, a certain sum amounts to its 27 times in 3 year?

  1. 100%
  2.  150%
  3.  75%
  4.  200%
Monis Rasool Professor Asked on 24th July 2015 in Maths.
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  • 1 Answer(s)

    Answer; (4) 200 %
    Explanation:-
    Let the principal be = Rs.P
    Time = 3 years
    Amount = 27 P
    Then,
    27 P = P(1 + R/100)3
    (3)3 = (1 + R/100)3
    Cube root of both sides,
    3 = 1 + R/100
    R/100 = 3 – 1
    R = 2 x 100
    R = 200 %
    Hence, the answer is (4) 200 %.

    Anurag Mishra Professor Answered on 25th July 2015.
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