A sum of rupees 32000 amouns to rupees 39753.50 in 1½ years on compound interest, reckoned half-yearly. Find the rate of interest.
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A sum of rupees 32000 amouns to rupees 39753.50 in 1½ years on compound interest, reckoned half-yearly. Find the rate of interest.
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Answer:
Required rate of interest is 7.5% or 7 1/2% or 15/2%