If the compound interest on a certain sum of 2 year 4% p.a is rs. 102 ,the simple interest at the same rate of interest for two year would be?
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Time = 2 years
Rate = 4%
Compound lnterest = Rs.102
NOTE:
CI for 2 years =R+R+R×R100
Where R - Rate of Interest
Combined Rate% of CI for 2 years =4+4+4×4100=8.16%
SI for two years
=2×4=8%
According to the question
SI for 2 years
=1028.16×8=Rs.100
Hence, required simple interest = Rs. 100
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