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

Mattsson asked Oct 4, 2023

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Mattsson asked Oct 4, 2023

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10 votes

Answer: 5%

Explanation:

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

Refresh answered Oct 8, 2023

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