Explanation:
Let the rate of interest be R and P be the principal deposited.
Therefore,
P×(1+R/100)⁴/P×(1+R/100)² = 1464.1/1210
=> (100+R/100)² = 121/100 = (11/10)² =
=> 100×11/10 = 100+R
=>100+R = 110
=> R = 10
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Answers & Comments
Explanation:
Let the rate of interest be R and P be the principal deposited.
Therefore,
P×(1+R/100)⁴/P×(1+R/100)² = 1464.1/1210
=> (100+R/100)² = 121/100 = (11/10)² =
=> 100×11/10 = 100+R
=>100+R = 110
=> R = 10
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