Question

find principal and amount when rate per annum at 6% years is equal to 2% and compound interest equal to 618​

Answer 1

First year SI =Rs
2
600
​
=Rs300
CI−SI=618−600=Rs18
Interest on Rs 300 for 1 year = Rs 18
Interest on Rs 100 for 1 year Rs
30
18×100
​

= Rs.6
∴rate=6%