after 3 years a 1500 investment is worth 1680 what is the intrest rate on this investment

Answer: The rate of interest for the investment is 3.8Step-by-step explanation:Given as :The Principal = 1500 unitThe Amount after 3 years = 1680  unitThe Time period = 3 yearsLet The annual rate of interest = R % From compounded method Amount = Principal × [tex](1+\frac{Rate}{100})^{Time}[/tex]Or, 1680 = 1500 × [tex](1+\frac{Rate}{100})^{3}[/tex]Or, [tex]\frac{1680}{1500}[/tex] = [tex](1+\frac{Rate}{100})^{3}[/tex]Or, 1.12 =  [tex](1+\frac{Rate}{100})^{3}[/tex]Or, [tex](1.12)^{\frac{1}{3}}[/tex] = 1 + [tex]\frac{R}{100}[/tex] Or, 1.038 = 1 + [tex]\frac{R}{100}[/tex] So, 1.038 - 1 = [tex]\frac{R}{100}[/tex]  ∴  0.038 × 100 = RI.e R = 3.8 Hence The rate of interest for the investment is 3.8   Answer