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Determine the rate of interest for a sum that becomes 49/36 times of itself in 2 years compounded annually |
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Answer» Step-by-step explanation: LET the PRINCIPAL be Pso that Amount after 2 years will be A= 3649 PAND we KNOW that, A=P(1+r) t for C.I. compounded Annually 3649 P=P(1+r) 2 ⇒( 67 ) 2 =(1+r) 2 ⇒ 67 =1+r⇒r= 61 If you can understand the SOLUTION only It will help you |
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