At what rate per cent compound interest does | vedclass

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(B) Let the principal be $P$ and the rate of interest be $R \%$ per annum.According to the compound interest formula,the amount $A$ after $t$ years is

Vedclass · Accepted Answer

$100$

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(B) Let the principal be $P$ and the rate of interest be $R \%$ per annum.According to the compound interest formula,the amount $A$ after $t$ years is given by $A = P(1 + R/100)^t$.Given that the sum becomes $16$ times in $4$ years,we have $A = 16P$ and $t = 4$.Substituting these values into the formula:$16P = P(1 + R/100)^4$$16 = (1 + R/100)^4$$(2)^4 = (1 + R/100)^4$Taking the fourth root on both sides:$2 = 1 + R/100$$R/100 = 2 - 1 = 1$$R = 100 \%$Thus,the rate of interest is $100 \%$.

At what rate per cent compound interest does a sum of money become $16$ times in $4$ years?

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