Mathematics · Percentage
A certain sum was invested for three years in a scheme in which the interest gets compounded annually. During the first two years, the scheme provided growths at the rates of 80% and 60%, respectively, but during the third year there was a decline by 40%. What was the overall compound growth rate for the three years?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 148.6%
- 222.5%
- 320%✓
- 424%
Correct answer
20%
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