At what rate per annum, compounded annually, will ₹15,625 amount to ₹17,576 in 3 years?

Explanation

1. 01

   $(1 + \frac{R}{100})^3 = \frac{17576}{15625}$.

2. 02

   Notice $15625 = 25^3$ and $17576 = 26^3$, so $1 + \frac{R}{100} = \frac{26}{25} = 1.04$.

3. 03

   $R = 4\%$ per annum.