At what rate percent is the difference of CI and SI on a certain sum of money of Rs. 30720 in 3 years 1500?
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Step-by-step explanation:
Rate of interest. (1+rate of interest) Difference between Compound interest & simple interest (30720*(1+r)^3-30720-30720*3*r)
r 1+r 30720*(1+r)^3-30720-30720*3*r
0.125 1.125 1500
Rate of interest is 0.125 or 12.5% p.a
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