A sum of money is invested in compound interest at 15% per annum for three years....
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A sum of money is invested in compound interest at 15% per annum for three years. If the investment mode was simple interest instead, what should have been the rate of interest to earn the same amount of interest in three years? 1. 15% 2. 16.25% 3. 17.36% 4. 18.08% 5. 20% A sum of money is invested in compound interest at 15% per annum for three years. If the investment mode was simple interest instead, what should have been the rate of interest to earn the same amount of interest in three years? 1. 15% 2. 16.25% 3. 17.36% 4. 18.08% 5. 20%
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