What is the interest rate if an amount is 16 times for two years in a one-time interest viewing system?
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Answer:
P→
16
25
p in two years
∴
16
25
p=p(1+
100
r
)
2
(
4
5
)
2
=(1+
100
r
)
2
⇒
4
5
=1+
100
r
r=25%.
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