Question

A certain sum at compound interest becomes rupees 1200 in the first year and rupees 1296 in the second year. Find the rate of interest and the sun invested. ​

Answer 1

Answer:

the rate of interest = ₹8 per month

the amount of money invested was ₹1104

Answer 2

Answer:

Simple interest per year is 1200/2=600

Interest on 600 is 1290–1200=90

So interest rate is 600*R/100=90

R=90/6=15%

P*15/100=600

P=60000/15= Rs 4000

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