If the compound interest on a certain sum for 2 years at 12% per annum is 71,590, what would be the simple interest?
Answers
Answered by
0
Answer:
Rate % = 12 %
Time = 2 years
Effective Rate % of CI for 2 years
=12+12+12×12100=25.44
Effective Rate % of SI for 2 years = 12×2= 24 %
According to the question,
Required SI=254425.44×24 =Rs. 2400
Required sum = Rs. 2400
Similar questions