At what rate % per annum will a sum of ₹6250 amount to ₹7840 on 2 years, compound annually
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formula for rate of interest
R = (1/t) (A/P-1)
r = (1/2) ((7840/6250)-1)
= 0.1272
converting R decimal to R a percentage
R = 0.1272*100 = 12.72%/year # ans
R = (1/t) (A/P-1)
r = (1/2) ((7840/6250)-1)
= 0.1272
converting R decimal to R a percentage
R = 0.1272*100 = 12.72%/year # ans
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