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At what rate per cent CI does a sum of money become 1.44 times of itself in 2 years?Detailed Solution
A sum becomes 1.44 times of itself. ∴ The rate of interest is 20%.
At what rate percent compound interest does a sum of money becomes 1.44 times of itself?A=P(1+r100)n1.44p=p(r100)2√1.44=(r100)1.2=1+r1001.2−1=r1000.2×100=rr=20%
At what rate of CI will a sum becomes 2.197 times of itself in 3 years?Find the annual rate of interest. [Answer: 30%; Please provide the detailed explaination]
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Find the rate of compound interest at which a principal becomes 1.69 times itself in 2 years
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