The different between compound interest and simple interest on an amount of $15, 000 for 2 years is $ 96. What is the rate of interest per annum?

The different between compound interest and simple interest on an amou

1.	The different between compound interest and simple interest on an amount of $15, 000 for 2 years is $ 96. What is the rate of interest per annum?
A.	8
B.	10
C.	12
D.	cannot be determined
Answer» B. 10

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