A bank lends a mine owner Rs. 1,00,000 today to purchase hand-held drills. If a note of agreement is signed to pay the bank Rs. 1,76,234 at the end of 5 years, the rate of interest in percent compounded yearly on the loan becomes

A bank lends a mine owner Rs. 1,00,000 today to purchase hand-held drills. If a note of agreement is signed to pay the bank Rs. 1,76,234 at the end of 5 years, the rate of interest in percent compounded yearly on the loan becomes Correct Answer 12

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