Question

For how many years would simple interest and compound interest of a sum of money is same?​

Answer 1

Answer:

1 year(or time for rate applied means

if r = 5% per month

and t = 5 month

then simple interest and compound interest of a sum of money is same till a month)

Answer 2

Answer:

Let Principal amount be Rs.100.

⇒  Simple Interest be Rs.100.

⇒  Rate = 16^3 /2 =3 /50

​⇒  Simple Interest=  100 P×R×T

​⇒  100=100×  3 /50 ×100 /T

⇒  T=  50 /300

​ ⇒  T=6

Step-by-step explanation: