43 Calculate the difference between the simple and
the compound interest on a sum of 9,500 at a
rate of 11% per annum for 2 years answer i is 114.95
Answers
Answered by
1
Step-by-step explanation:
Let the rate of interest be r %
∴ S.I. In 2 years =
100
9500×r×2
=Rs.190r
And, C.I. in 2 years = A - P
=Rs.9500(1+
100
r
)
2
−9500
Given : C.I. - S. i. = Rs.95
⇒[9500(1+
100
r
)
2
−9500]−190r=95
⇒9500(1+
10000
r
2
+
100
2r
)−9500−190r=95
⇒9500+
100
95r
2
+190r−9500−190r=95
100
95r
2
=95⇒r
2
=95×
95
100
=100andr=10
∴ Rate of interest = 10%
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