If 600amount to 1510at compound interest in 12 year. Find the rate of compound interest
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A =p(I +r/100)^n
1510=600 (I +r/loo)^12
(1 + r/100)^12=1510/600=2.5l
(I +r/loo)^12 = 1.08 ^12
1+r/100=1.08
r/100=0.08
r = 8. Ans 8%
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