A sum of money becomes 2.25 times in 2 years at a certain rate of compound interest per annum
Find the rate of interest
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Let (A+B) be the sum of money.
In 2years it becomes 2.25(A+B) at a certain rate of C.I per annum (i.e in year).
Compound Interest= P [(1 + i)n – 1]
(Where P = Principal, i = nominal annual interest rate in percentage terms, and n = number of compounding periods.)
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