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### Discussion :: Compound Interest

1. What is the rate of compound interest?

I. The principal was invested for 4 years.

II. The earned interest was Rs. 1491.

2.  A. I alone sufficient while II alone not sufficient to answer B. II alone sufficient while I alone not sufficient to answer C. Either I or II alone sufficient to answer D. Both I and II are not sufficient to answer E. Both I and II are necessary to answer

Explanation :

Let Principal = Rs. P and Rate = R% p.a. Then,

Amount = Rs.[P$$(1+\frac { R } { 100} ) ^4]$$

C.I  =  p [ $$(1+\frac { R } { 100} ) ^4-1]$$

P[$$(1+\frac { R } { 100} ) ^4-1]$$=1491

Clearly, it does not give the answer.

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