Mathematics · Interest
A sum of Rs. 11,200 amounts to Rs. 15,456 in two years at compound interest (compounded annually). If the rate of interest for the first year is 20% per annum, find the rate of interest for the second year.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 114% p.a.
- 212% p.a.
- 315% p.a.✓
- 410% p.a.
Correct answer
15% p.a.
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