Q16 of 94 Page 29

At what rate percent compound interest per annum will Rs. 640 amounts to Rs. 774.40 in 2 years?

Principle = 640

Amount = 774.40


Time = 2 years


Interest rate = ?


Let interest rate be x


Amount =


774.40 =


– 100 = x


X = 10


∴ interest rate is 10%


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