Question 146
The difference between the compound interest and simple interest on 10,000 for 2 years is 25. The rate of interest per annum is
Solution
Difference between CI and SI for 2 years = $$\frac{PR^2}{100^2}$$
$$\frac{PR^2}{100^2}$$ = 25
P = 10000
using the given values we get R(rate of interest ) = 5%
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