Hayyan invested rs 400000 in an investment scheme and get Rs 545881at the end of three years.Find effective rate if interest was compounded monthly.a)10.41%b)10.92%c)10%d)none of these
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Answer:
none of these
Step-by-step explanation:
simple interest=1,45,881
145881=400000×3×R/100
R=145881×100/400000×3
R=12.1%
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