A sum of ₹ 11700 becomes ₹ 16848 in 2 years at the rate of compound interest. If the interest is compounded annually, then what will be the rate of interest?

A sum of ₹ 11700 becomes ₹ 16848 in 2 years at the rate of compoun

1.	A sum of ₹ 11700 becomes ₹ 16848 in 2 years at the rate of compound interest. If the interest is compounded annually, then what will be the rate of interest?
A.	20%
B.	15%
C.	17.5%
D.	25%
Answer» B. 15%

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A sum of ₹ 11700 becomes ₹ 16848 in 2 years at the rate of compound interest. If the interest is compounded annually, then what will be the rate of interest?

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