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Description for Correct answer: \( \Large 1 \rightarrow\ \ 4 \) \( \Large 4=1 \left(1+\frac{r}{100}\right)^{2}\) \( \Large 4= \left(1+\frac{r}{100}\right)^{2}\) r = 100 % Part of solved Simple and compound interest questions and answers : >> Aptitude >> Simple and compound interest At what rate percent compound interest, does a sum of money become 1.44 times of itself in 2 years?Answer Verified Hint: First, we will let the principal sum of money as ‘P’ and the rate of interest as ‘R’. we will use the conditions given in the question and formula of compound interest to form a different equation. And by solving those equations we will find the rate of interest. Complete step-by-step solution: Note: Compound interest (or compounding interest) is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods. The rate at which compound interest accrues depends on the frequency of compounding, such that the higher the number of compounding periods, the greater the compound interest. Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one. The total initial amount of the loan is then subtracted from the resulting value.
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At what rate PAA sum of money will become 4 times?R % = [(4 - 1)× 100]/10 = 3 × 10 = 30%. ∴ Rate of interest is 30%.
In what time if an amount becomes 4 times in 4 years then in how many years it would be 16 times through compounded interest and simple interest respectively options?∴ The time taken to 16 times the amount is 20 years.
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At what rate percent compound interest does a sum of money becomes 9 4 times itself in 2 years 25% 100% 60% 50%?The rate of interest is 50 % per annum.
Here, a sum of money becomes 9/4 of itself in 2 years.
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