Ajit calculated simple interest on a sum for 3 years at any rate of interest as 450 while compound interest on the same rate for 2 yrs is 315. Find the sum and rate percent
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Answer:
10% per annum
Step-by-step explanation:
one year simple interest = 450/3= 150
rate of interest will be 150×r/100=15
r= 15 × 100/ 150= 10
r= 10% per annum
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