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At what rate per cent per annum will rs 6000 amount to rs 6615 in two years when interest is compounded annually?
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At what rate per cent per annum will rs 6000 amount to rs 6615 in two years when interest is compounded annually?

User Ajeet Sinha
by
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1 Answer

11 votes

Answer: 5%

Explanation:


6615=6000(1+r)^(2) \\ \\ 1.1025=(1+r)^(2) \\ \\ 1.05=1+r \\ \\ r=0.05=\boxed{5\%}

At what rate per cent per annum will rs 6000 amount to rs 6615 in two years when interest-example-1
User JeyJ
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