If the ratio of the compound interest to the simple interest earned on a principal at the same rate of interest per annumfor 3 years is 331:330, what is the rate of interest per annum?
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If the ratio of the compound interest to the simple interest earned on a principal at the same rate of interest per annumfor 3 years is 331:330, what is the rate of interest per annum?
➡➡Let the principal for both the case be Rs. P and the rate of interest be R% p.a.
Then, required ratio =
100
P×R×6
:
100
P×R×4
=6:4=3:2.
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