A certain sum of money, at a fixed annual compound interest rate, becomes ₹752 at the end of 20 years and ₹7,896 at the end of 21 years. Find the annual rate of compound interest. [Amounts as per source paper; see QA note for magnitude inconsistency]
Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM
Options
- (A) 8.5%
- (B) 9.5%
- (C) 950%
- (D) 850%
Verified Answer
Option (C): 950%
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