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₹ 2000 amounts to ₹ 2226.05 in 2 years on compound interest. What is the rate of interest per annum? |
5% 5.25% 5.5% 6% |
5.5% |
We have, Rs 226.05 is the interest Principal = Rs 2000 Time = 2 years Rate = r%. So we know that, Interest = P{(1+r/100)n−1} 226.05 = 2000{(1+r/100)2−1} So, r = 5.5%. |
