₹2000 amounts to ₹2226.05 in 2 years on compound interest. What is the rate of interest per annum?

Question

₹2000 amounts to ₹2226.05 in 2 years on compound interest. What is the rate of interest per annum?

Options

A.

5%

B.

5.25%

C.

5.5%

D.

6%

compound interestrate calculationfinancial mathematicscuet 2023

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