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

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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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