A man deposited 4000 rupees with the a bank. If the bank calculated compound interest and he gets 4410 rupees after 2 years . What was the rate of interest?
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just use common sense in this type of questions...
if some amt. of money 4000 increased to 4410 in 2 yrs.. mean simply
its interst.. 4410-4000=410
i think you knew it very well that s.i an c.i of ist year remain same but second year of c.i mean interest upon interest
ist yer 2nd year
410 distribute in this type that is 200 200 we need 10 rs more from 200 think add which rate that it give 10 that is 5%...200*5%=10
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