A sum of money amounts to Rs.8820 in 1 year and to Rs.9261 in 3/2 years when interest is compounded semi-annually. find the sum of rote of interest per annum.
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Step-by-step explanation:
Let the sum be P and rate of interest be r%
A1=Rs.8820A2=Rs.9261
Rate of interest half-yearly =r2%
As the amount is invoked for 1 year and 112 years, so conversions are 2 and 3 respectively.
x1=2
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