In what time the compound amount of Rs 60000 at 10% rate is rs 79860?

P= Rs 60000

A= Rs 79860

T=1 & 1/2 year = 3/2 years

    = 3/2 x 2 = 3 half years

R= ?  

Applying the formula A= P (1+r/100)^T

           79860  = 60000 (1+ r/100)^3

                  79860/60000 = (1+r/100)^3

                  1331/1000 = (1+r/100)^3

root(3)(1331/1000) = (1+r/100)

                     11/10 = 1+r/100

                     11/10 -1 = r/100

                      1/10 = r/100

                       r= 10 %

Step-by-step explanation:

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