At what rate per annum does the compound interest of Rs 576 becomes to Rs 153 in 2 years
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Answer:
The value of rate per annum is 12.5%
Step-by-step explanation:
Principal amount=576
Interest=153
Amount after 2 years=576+153=729
A=P+[1+R/100]t
729=576[1+R/100]t
27/24=1+R/100
R=12.5%
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