Question

If the difference of the C.I and S.I on a sum of money for 2 years is 1% of the sum of money then find the rate of interest. (Ans. 10%)​

Answer 1

[C.I-S.I] for 2years =P(R/100)^2

P= principal or Sum

R=rate of interest

given C.I-S.I=1%P

C.I-S.I=(1/100)P

put R value in above formula

C.I-SI=P(R/100)^2

(1/100)P=P(R/100)^2

R=10%