At what rate per annum compound interest will Rs 100 amount to Rs 500 in 12 years?
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Question:
At what rate per annum compound interest will Rs 100 amount to Rs 500 in 12 years? A man deposits Rs 5,000 in a savings bank which pays compound interest at the rate of 4.5% for first two years then at the rate of 5% for the next three years. Find his amount after five years.
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