At what rate per cent compund interest does a sum of money became 1.44 times of itself in 2 year
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a= 1.44p
p=p
r=??
t=2years
now
a= p(1+r/100)^t
144p/100= p(1+r/100)^2
12p/10 = p(1+r/100)
12/10= ( 100+r/100)
120=100+r
20%=r
i hope it will help you
p=p
r=??
t=2years
now
a= p(1+r/100)^t
144p/100= p(1+r/100)^2
12p/10 = p(1+r/100)
12/10= ( 100+r/100)
120=100+r
20%=r
i hope it will help you
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