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Asum of ₹ 1,000 becomes ₹ 1,144.90 in 2 ...

Asum of ₹ 1,000 becomes ₹ 1,144.90 in 2 years. At whatrate is the interest is compounded annually?

A

0.07

B

0.05

C

0.08

D

0.06

Text Solution

Verified by Experts

The correct Answer is:
A
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