Compound Interest Practice Test 5

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Question : 25 of 40

Marks: +1, -0

A certain amount of money at compound interest grows up to 47,362 in 10 years and 58,126 in 11 years. Find the rate of interest per annum.

22.73%
25%
12.5%
22%
20%

Solution:

Rate

={(58126-47362)×100}/47362

={10764×100}/47360=22.73%

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