Question 82

At what rate of compound interest a sum will be $$\frac{25}{16}$$ times of itself in 2 years?

Solution

P * $$ (1 + \frac{r}{100})^{2} = P * \frac{25}{16} $$

Implies $$ (1 + \frac{r}{100})^{2} = \frac{25}{16} $$

$$ 1 + \frac{r}{100}= \frac{5}{4} $$

r = 25%

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