Question

Find the difference between Simple Interest
and Compound Interest on 10,000 for
2 years at the rate of 5% p.a.​

Answer 1

Answer:

CI=(1+ 100R)

T −P

SI= 100/PRT

Given P=10000,T=2,CI−SI=64

10000 (1+ 100R)

2 −1 − 100/20000R

=64

⇒( 100R)

2 + 100/2R

100/2R = 10000/64

⇒( 100R ) 2

=( 100/8 ) 2

⇒R=8

∴ Rate of Interest is 8%

Step-by-step explanation:

Rate of Interest is 8%