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A Sum amounts to Rs.7,562 in 4 years and...

A Sum amounts 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 annually, The rate of interest is:

A

0.12

B

0.2

C

0.08

D

0.15

Text Solution

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The correct Answer is:
A
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