Question

2. The difference between the compound interest and the simple interest on 42000 for
two years is 105 at the same rate of interest per annum. Find
( the rate of interest (ii) the compound interest earned in second year.​

Answer 1

Answer:

Rate of interest is 25%

CI earned in 2nd yr is 13125

Step-by-step explanation:

(i) CI-SI for 2yr is given by P(R/100)^2

given,Principal is 42000

also given difference of CI and SI is 105 for 2yr

105=(42000)×(R/100)^2

R=25% is rate of interest

(ii) 42000×25%=10,500 is CI for first year..Principal for next year is 42000+10500=52,500

52500×25%=13125 is CI for 2nd yr

Answer 2

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