If the compound interest accrued on an amount of rs 14500 in two years is rs 4676.25,what is the rate of interest pcpa?
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CI = P (1+r/100)^t - P
4676.25 = 14500 (1 + r/100)^2 - 14500.
4676.25 + 14500 = 14500 (1 + r/100)^2
19176.25 = 14500 (1 + r/100)^2
19176.25/14500 = (1 + r/100)^2
13225/10000 = (1 + r/100)^2
square root on both sides
115/100 = 1 + r/100
115/100 - 1 = r/100
15/100 = r/100
r = 15%
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