At what rate per cent per annum will ₹ 1000 a | vedclass

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Question

(a) Here, $P=1000, A=1331$ and $t=3$

$P=100\left[\left(\frac{A}{P}\right)^{1 / t}-1\right] \%$ p.a.

$=100\left[\left(\frac{1331}{1000}\right)^{1

Vedclass · Accepted Answer

$10$

Vedclass · Answer

(a) Here, $P=1000, A=1331$ and $t=3$

$P=100\left[\left(\frac{A}{P}ight)^{1 / t}-1ight] \%$ p.a.

$=100\left[\left(\frac{1331}{1000}ight)^{1 / 3}-1ight] \% p . a$

$=100\left[\left(\frac{11}{10}ight)^{3 	imes \frac{1}{3}}-1ight]=100 	imes \frac{1}{10}=10 \% p.a$

At what rate per cent per annum will ₹ $1000$ amount to ₹ $1331$ in $3$ years? The interest is compounded yearly.

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