At what rate percent compound interest does a sum of money becomes four times in 2 years.?
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let the p be 100
a=p(1+r/100)^t
400=100(1+r/100)^2
400/100= (1+r/100)^2
4=(1+r/100)^2
2^2=(1+r/100)^2
equating bases if same powers
2=1+r/100
1=r/100
100=r
rate =100%
a=p(1+r/100)^t
400=100(1+r/100)^2
400/100= (1+r/100)^2
4=(1+r/100)^2
2^2=(1+r/100)^2
equating bases if same powers
2=1+r/100
1=r/100
100=r
rate =100%
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