at what rate percent will a sum of rupees 3750 amount to rupees 4374 in 2 years if the interest is compounded annually
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Step-by-step explanation:
principal = 3750
time = 2years
amount = 4374
rate of interest = ?
interest = 4384 - 3750 = 624
interest per year = 624÷ 2 = 312
rate = p × t / si × 100
= 3750 ×1 /100 × 312
=427
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