1. The compound interest accrued on a sum of Rs. 7,500 in two years is Rs.927. What would be the rate of interest p.c.p.a. ?
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By: anil on 05 May 2019 01.20 am
Given, Compound interest (CI) = 927 Time period (t)= 2 years principle amount (P)= 7500 CI = P{$$[1+frac{r}{100}]^{t}$$ - 1} 927 = 7500{$$[1+frac{r}{100}]^{2}$$ -1} On solving , r = 6%
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