A man invests Rs. $3000$ for four years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. $4500$ . Calculate the rate of interest per annum.

10 %

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20 %

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50 %

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30 %

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Solution

The correct option is B $50 %$
Given, $P =$ Rs. $3000$
At the end of $1$ year, the investment amounts to Rs. $4500$ .
Thus, $A =$ Rs. $4500$
Interest $= A - P$
Therefore, $I = 4500 - 3000 = 1500$ , $T = 1$ year.
$R = \frac{1500 \times 100}{3000 \times 1}$
$R = 50 %$
Therefore, the rate of interest per annum is $50 %$ .

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A man invests Rs. 3000 for four years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 4500. Calculate the rate of interest per annum.

The correct option is B 50%Given, P= Rs. 3000At the end of 1 year, the investment amounts to Rs. 4500.Thus, A= Rs. 4500Interest =A−PTherefore, I=4500−3000=1500, T=1 year.R=1500×1003000×1R=50%Therefore, the rate of interest per annum is 50%.

A man invests Rs. $3000$ for four years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. $4500$ . Calculate the rate of interest per annum.