Question

If the difference between the C.I and S.I on a sum of rs. 8000 for two years is rs. 96.80, calculate the rate of interest.​

Answer 1

Answer:

Step-by-step explanation:

the formula to find the rate of interest when sum , difference and time for 2 years is given then

sum=10,000*d/r^2

here r=rate of interedt

d=difference

Note: this formula is applicable only if time period is 2 years

in other cases we have to use the formulas of simple interest and compound interest and calculate them seperatly.

now

r^2=10,000*d/sum

=10,000*96.8/(8000)

=1000*968/8000

=121

r=11

=100

r=10%