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profiledeepak 2
asked 2020-02-05 08:31:55 
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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profiledev
answered 2020-02-05 09:45:04 

Ans: $20\%$

$\text{P}\left(1+\dfrac{\text{R}}{100}\right)^2=1.44\text{P}\\\Rightarrow \left(1+\dfrac{\text{R}}{100}\right)^2=1.44\\\Rightarrow 1+\dfrac{\text{R}}{100}=1.2\\\Rightarrow \dfrac{\text{R}}{100}=0.2\\\Rightarrow \text{R}=20$

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