at what rate percent will a sum rupees 2,000 will amount to rupees 2800 in 2 years at compound interest if compounded annually
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Step-by-step explanation:
A sum of money at simple interest amounts Rs. 2,800 in 2 years and Rs.3.250 in 5 years
∴ Interst paid in 3 years =3250−2800=450 Rupees
Annual Interest =450÷3=150 Rupees
Sum lent at the begining =2800−150×2=2500 Rupees
Rate of simple Interest =(150/2500)×100=6 percent.
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