plz solve:
rupees 12,000 is invested for 1½ years at compound interest. If rupees 15,972 is received at the end of this period find the rate of interest per annum.
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principal = Rs 12000
amount = Rs 15972
: simple interest =( amount - principal)
= Rs 15972 - 12000
= Rs 3972
principal = Rs 12000
time = 1 1/2 = 3/2 = 1.5 year.
simple interest = Rs 3972
Rate = SI × 100
P× R
= 3972 × 100 × 10
12000 × 15
= 331
15
= Rs 22.06
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