The interest on a certain sum for 2 years is rs. 1700 and for 3 years is rs. 2712.50. If interest is compounded annually, what is the rate of interest?
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Answer:
Explanation:
take the difference 2712.5 - 1700 = 1012.5
1700 : 1012.5 further simplify 136 : 81
two consecutive numbers will divide them let say 81 can be divide by nine 9
136 by 8 so the answer is 8 %
please verify not sure
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