Practicing Success
Practicing Success
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An amount of money at compound interest gives 3840 in 5 years and Rs. 3936 in 6 years. Find rate of interest. |
2.6% 2.5% 3.5% 3.6% |
2.5% |
Interest in one year = 3936 - 3840 = 96 Rate of interest = \(\frac{96}{3840}\) × 100 % = 0.025 × 100 % = 2.5% |
