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A sum of $2000 is due in 4 years. If the true discount is $400, what is the rate

Practice Questions

Q1
A sum of $2000 is due in 4 years. If the true discount is $400, what is the rate of interest per annum?
  1. 5%
  2. 6%
  3. 7%
  4. 8%

Questions & Step-by-Step Solutions

A sum of $2000 is due in 4 years. If the true discount is $400, what is the rate of interest per annum?
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