at what rate percent will a sum of rs62500 amount to rs67600 in 2years interest being compounded annually
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According to the formula A=P(1+r/100)^n
67600=62500(1+r/100)^2
676/625=(1+r/100)^2
√(676/625)=1+r/100
26/25=1+r/100
(26/25)-1=r/100
1/25=r/100
r=100÷25
r=4 percent
67600=62500(1+r/100)^2
676/625=(1+r/100)^2
√(676/625)=1+r/100
26/25=1+r/100
(26/25)-1=r/100
1/25=r/100
r=100÷25
r=4 percent
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