At what rate percent will a sum of Rs. 1000 amount to Rs. 1102.50 in 2 years at compound interest?
Given,
Principal = Rs.1000
Amount = Rs.1102.50
Time = 2 years
Let rate of interest = R % per annum
So,
A = 
= 
= 
= 
= 
= 
Hence,
Rate of interest = 5 % per annum
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