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The compound interest obtained after 1st and 2nd year is Rs 160 and Rs 172.8 respectively on a certain sum of money invested for 2 years. What is the rate of interest?
10%
8%
8.5%
9%
Difference in interest for both yrs = 172.8 – 160 = 12.8 So (r/100)*160 = 12.8 r = 12.8 x 100 /160 = 8%
By: Amit Kumar ProfileResourcesReport error
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