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A sum of $800 is due in 2 years. If the true discount is $160, what is the rate

Practice Questions

Q1
A sum of $800 is due in 2 years. If the true discount is $160, what is the rate of interest per annum?
  1. 8%
  2. 10%
  3. 12%
  4. 15%

Questions & Step-by-Step Solutions

A sum of $800 is due in 2 years. If the true discount is $160, what is the rate of interest per annum?
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