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Rs. 6000 amounts to Rs . 7986 in 3 years...

Rs. 6000 amounts to Rs . 7986 in 3 years at Cl. The rate of interest is :

A

`20%`

B

`10%`

C

`15%`

D

`20%`

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The correct Answer is:
To find the rate of interest when Rs. 6000 amounts to Rs. 7986 in 3 years at compound interest, we can follow these steps: ### Step-by-Step Solution: 1. **Identify the Given Values:** - Principal (P) = Rs. 6000 - Amount (A) = Rs. 7986 - Time (T) = 3 years 2. **Use the Compound Interest Formula:** The formula for the amount in compound interest is: \[ A = P \left(1 + \frac{r}{100}\right)^T \] where \( r \) is the rate of interest. 3. **Substitute the Known Values:** Substitute the values of A, P, and T into the formula: \[ 7986 = 6000 \left(1 + \frac{r}{100}\right)^3 \] 4. **Divide Both Sides by 6000:** To isolate the term with \( r \): \[ \frac{7986}{6000} = \left(1 + \frac{r}{100}\right)^3 \] Calculate \( \frac{7986}{6000} \): \[ \frac{7986}{6000} = 1.331 \] 5. **Take the Cube Root:** To solve for \( 1 + \frac{r}{100} \), take the cube root of both sides: \[ 1 + \frac{r}{100} = \sqrt[3]{1.331} \] The cube root of 1.331 is approximately 1.1 (since \( 1.1^3 = 1.331 \)). 6. **Isolate \( r \):** Now, subtract 1 from both sides: \[ \frac{r}{100} = 1.1 - 1 = 0.1 \] Multiply both sides by 100 to find \( r \): \[ r = 0.1 \times 100 = 10 \] 7. **Conclusion:** The rate of interest \( r \) is 10%. ### Final Answer: The rate of interest is **10%**.
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ARIHANT SSC-CI/SI/INSTALMENTS-EXERCISE (LEVEL - 1)
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  2. At compound interest , if a certain sum of money doubles in n years , ...

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  3. Rs. 6000 amounts to Rs . 7986 in 3 years at Cl. The rate of interest i...

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  4. The least number of complete years in which a sum of money put out ...

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  5. The Cl on Rs. 5000 for 3 years at 8% for first year, 10% for second ye...

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  6. A sum of Rs. 2400 deposited at Cl, doubled after 5 years. After 20 yea...

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  7. A sum of ₹ 550 was taken as a loan. This is to be paid back in two equ...

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  8. The difference between compound interest and simple interest on a sum ...

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  9. The difference between simple and compound interest on Rs. 6000 for 1 ...

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  10. A certain sum amounts to ₹ 8988.8 in two years and to ₹ 9528.128 in th...

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  11. The compound interest and the simple interest for two years on a certa...

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  12. The compound interest on a certain sum at a certain rate of interest f...

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  19. A sum of Rs. 390200 is to paid back in three equal annual installments...

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