t what percent per annum will sum of Rs 8000 amount to Rs 9261 in 3 years, if interest is compounded annually?4%20%5%8%

To solve this problem, we need to use the formula for compound interest which is:

A = P (1 + r/n)^(nt)

Where: A = the amount of money accumulated after n years, including interest. P = principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that interest is compounded per year t = time the money is invested for in years

Given in the problem: P = Rs 8000 A = Rs 9261 n = 1 (since the interest is compounded annually) t = 3 years

We need to find r.

Substituting the given values in the formula, we get:

9261 = 8000 (1 + r/1)^(1*3)

Solving this equation for r will give us the annual interest rate.

Let's simplify the equation:

9261/8000 = (1 + r)^3

1.157625 = (1 + r)^3

Taking the cube root of both sides:

1.05 = 1 + r

Subtract 1 from both sides to solve for r:

r = 1.05 - 1

r = 0.05

To express this decimal as a percentage, we multiply by 100:

r = 0.05 * 100 = 5%

So, the annual interest rate that will make a sum of Rs 8000 amount to Rs 9261 in 3 years, if interest is compounded annually, is 5%.