If a sum of money becomes 9/4 times in 2 years under an annual compound interest scheme then find the rate of interest?
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take it as of rs 100
then the amount will become rs 225
then put the values in formula
amount = p(1+r/100)^t
then 225 = 100(1+r/100)^2
in this way the r = 50%
then the amount will become rs 225
then put the values in formula
amount = p(1+r/100)^t
then 225 = 100(1+r/100)^2
in this way the r = 50%
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