At what percent per annum will sum of Rs 8000 amount to Rs 9261 in 3 years, if interest is compounded annually?20%4%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: A = Rs 9261 P = Rs 8000 t = 3 years n = 1 (since the interest is compounded annually)

We need to find r.

Let's rearrange the formula to solve for r:

r = n[(A/P)^(1/nt) - 1]

Substituting the given values:

r = 1[(9261/8000)^(1/3) - 1]

Calculating the above expression will give us the annual interest rate in decimal. To convert it to percentage, we multiply by 100.

Let's calculate:

r = [(9261/8000)^(1/3) - 1] * 100

r ≈ 5%

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