The problem is about compound interest. The formula for compound interest is A = P(1 + r/n)^(nt), where:

A = the amount of money accumulated after n years, including interest.
P = the principal amount (the initial amount of money)
r = annual interest rate (in decimal)
n = number of times that interest is compounded per year
t = time the money is invested for in years

From the problem, we know that a sum of money amounts to Rs. 760 after 3 years and Rs. 912 after 4 years. This means that the interest earned in the fourth year is Rs. 912 - Rs. 760 = Rs. 152.

We can use this information to find the rate of interest. The interest earned in the fourth year is the rate of interest times the amount of money at the start of the fourth year. So, we have:

152 = r * 760

Solving for r gives us r = 152 / 760 = 0.2 or 20%.

So, the rate of interest per annum is 20%.

Question

The problem is about compound interest. The formula for compound interest is A = P(1 + r/n)^(nt), where:

A = the amount of money accumulated after n years, including interest.
P = the principal amount (the initial amount of money)
r = annual interest rate (in decimal)
n = number of times that interest is compounded per year
t = time the money is invested for in years

From the problem, we know that a sum of money amounts to Rs. 760 after 3 years and Rs. 912 after 4 years. This means that the interest earned in the fourth year is Rs. 912 - Rs. 760 = Rs. 152.

We can use this information to find the rate of interest. The interest earned in the fourth year is the rate of interest times the amount of money at the start of the fourth year. So, we have:

152 = r * 760

Solving for r gives us r = 152 / 760 = 0.2 or 20%.

So, the rate of interest per annum is 20%.

Knowee AI · Accepted Answer

The problem is about compound interest. The formula for compound interest is A = P(1 + r/n)^(nt), where:

A = the amount of money accumulated after n years, including interest.
P = the principal amount (the initial amount of money)
r = annual interest rate (in decimal)
n = number of times that interest is compounded per year
t = time the money is invested for in years

From the problem, we know that a sum of money amounts to Rs. 760 after 3 years and Rs. 912 after 4 years. This means that the interest earned in the fourth year is Rs. 912 - Rs. 760 = Rs. 152.

We can use this information to find the rate of interest. The interest earned in the fourth year is the rate of interest times the amount of money at the start of the fourth year. So, we have:

152 = r * 760

Solving for r gives us r = 152 / 760 = 0.2 or 20%.

So, the rate of interest per annum is 20%.

A sum of money amounts to Rs. 760 after 3 years and to Rs. 912 after 4 years on compound interest. What will be the rate of interest p.c.p.a ?Choose the best optionClear Response20%25%15%30%

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