Rs 6,000 is invested for 3 years at C.I. If Rs 7,986 is received as the amount, find the rate % per annum.
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Interest is compounded semi-annually.
r=(r%)/2,n=2×(3/2)=3
A=P(1+
100
r
)
n
7986=6000(1+
100
r
)
3
⟹r=10%
Rate of interest=10%per annum
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