A sum compounded annually becomes 729 512 times of itself in 3 years. Find the rate of interest per annum.

Let Principle be R s P and rate of Interest be = R % Given Amount = 729 512 P Time n = 3 years Hence Amount after 3 years 729 512 P = P 1 + R 100 3 ⇒ 729 512 = 1 + R 100 3 ⇒ 9 8 3 = 1 + R 100 3 ⇒ 1 + R 100 = 9 8 ⇒ R 100 = 9 8 - 1 = 1 8 ⇒ R 100 = 1 8 ⇒ R = 100 8 = 12 . 5 % Hence rate of interest is 12 . 5 % per annum

E M B I B E

START UP MATHEMATICS>Chapter 13 - Compound Interest>REVIEW EXERCISES>Q 4

EASY

8th CBSE

IMPORTANT

Earn 100

Give the formula for calculating the amount if the interest is compounded annually but the time is in fraction of a year.

Important Questions on Compound Interest

EASY

8th CBSE

IMPORTANT

START UP MATHEMATICS>Chapter 13 - Compound Interest>REVIEW EXERCISES>Q 5

What will be the rate of appreciation if the asset value reduces during certain years?

EASY

8th CBSE

IMPORTANT

START UP MATHEMATICS>Chapter 13 - Compound Interest>REVIEW EXERCISES>Q 1

Sunil deposited $₹ 12, 000$ with a finance company at the rate of $9.5 %$ per annum compounded annually for $2$ years. Calculate the interest received by him after $2$ years.