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Hema invested Rs. 1,728 at the rate of compound interest (Compounded annually) for 3 years. She got Rs. 4,096 after the specified period. Find the rat
Question

Hema invested Rs. 1,728 at the rate of compound interest (Compounded annually) for 3 years. She got Rs. 4,096 after the specified period. Find the rate of interest per annum.

A.

3312\frac{1}{2}%​

B.

3012\frac{1}{2}% %

C.

3313\frac{1}{3}%​

D.

3013\frac{1}{3}%​

Correct option is C

Amount = Principal  (1+R100)T(1+ \frac{R}{100})^T

4096 = 1728(1+R100)3(1+\frac{R}{100})^3

40961728=(1+R100)3\frac{4096}{1728} = (1+ \frac{R}{100})^3  

431=R100\frac{4}{3} -1 = \frac{R}{100}

R= 3313\frac{1}{3}​%

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