At what rate per cent compound interest does | vedclass

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Question

(b) The required rate per cent is

$R=100\left[(n)^{1 / t}-1\right]=100\left[(16)^{1 / 4}-1\right]$

[Here, $n=16$ and $t=4]$

$=100(2-1)=100 \%

Vedclass · Accepted Answer

$100$

Vedclass · Answer

(b) The required rate per cent is

$R=100\left[(n)^{1 / t}-1\right]=100\left[(16)^{1 / 4}-1\right]$

[Here, $n=16$ and $t=4]$

$=100(2-1)=100 \%$

At what rate per cent compound interest does a sum of money become $16$ times in $4$ years?

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