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The difference between the compound interest and simple interest earned on a particular sum in the second year alone is Rs. 123, and for the third year of investing is Rs. 369 if the interest rate is r%' per annum for both simple interest and compound interest, find the value of r?
The difference between the compound interest and simple interest earned on a particular sum in the second year alone is Rs. 123, and for the third year of investing is Rs. 369 if the interest rate is r%' per annum for both simple interest and compound interest, find the value of r?
Please explain this in simple method
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Hey , i would advice to remember the difference in the CI and SI for 2 and 3 year i.e for 2 yr CI-SI=pr*2<br>and for 3 year CI-SI = PR*3+3PR*2 (* is the square power)<br>using this divide the equation 1 by 2 and you will get the value of R as everything else will be cancelled off.... Hope this helps<br>
