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deepak 2
If a sum of money compounded annually becomes $1.44$ times of itself in $2$ years then the rate of interest per annum is
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dev
Ans: $20\%$
$\text{P}\left(1+\dfrac{\text{R}}{100}\right)^2=1.44\text{P}\\\Rightarrow \left(1+\dfrac{\text{R}}{100}\right)^2=1.44\\\Rightarrow 1+\dfrac{\text{R}}{100}=1.2\\\Rightarrow \dfrac{\text{R}}{100}=0.2\\\Rightarrow \text{R}=20$