Business Mathematics MCQ: If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?

If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?

Correct Answer: 15%

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