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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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