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A sum amount to Rs 7 562 in 4 years and...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
?

A sum amount to Rs. 7,562 in 4 years and to Rs. 8,469.44 in 5 years at a certain rate percent per annum, when the interest is compounded yearly. The rate of interest is:

Answer & Solution
Correct Answer: Option B
$$\eqalign{ & 7562\,\_\_\_\_\_\_\_\_\,8469.44 \cr & {\text{Rate of interest}} = \frac{{907.44}}{{7562}} \times 100 = 12\% \cr} $$
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