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At what rate compounded annually does ₹4,000 amount to ₹4,840 in 2 years?
A10%
B11%
C12%
D9%
Answer & Solution
Correct answer: A. 10%
1. 4000 × (1 + R/100)² = 4840.
2. (1 + R/100)² = 1.21 → 1 + R/100 = 1.10.
3. R = 10%.
_Source: jkchrome SI-CI QB, p.3 — finding rate at CI_
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