if the compound interest on a certain sum for 2 years is Rs. 21. What could be the simple interest? please give detailed explanation
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Answer:
Compound interest at rate r for 2 years accumulates to: (1+r)
2
=1.21
⇒ r=10%.
At r=10%,
Simple interest in 2 years accumulates to 2×(10%)=0.20,
∴ Simple Interest = Rs 20
prakshirathore123:
please explain the first step. How did you get 1.21?
I have written the whole answer but it is saying that it don't require huge amount of work so that why did it delete the answer
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