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- At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years
Question 1:
At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years A. 3%
B. 4%
C. 5%
D. 6%
Feedback Let Rate will be R%
1200(1+R/100)^2=134832/100
(1+R/100)^2 =134832/120000
(1+R/100)^2 =11236/10000
(1+R/100)=106/100
R=6%
1200(1+R/100)^2=134832/100
(1+R/100)^2 =134832/120000
(1+R/100)^2 =11236/10000
(1+R/100)=106/100
R=6%
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