A sum of ₹60,000 becomes ₹71,460.96 after 3 years when interest is compounded annually. Find the annual interest rate.

Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM

Options

1. (A) 6 %
2. (B) 5 %
3. (C) 7 %
4. (D) 8 %

Verified Answer

Option (A): 6 %

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