Question

On a certain sum and at a certain rate of interest, the simple interest for 1 year is rupees 600 and the compound interest for 2 years is rupees 1260. Find the sum and the rate percent.​

Answer 1

Answer:

sum = 6000 , rate of interest= 10%

Step-by-step explanation:

pr×1/100 = 600

or, pr=6000

p(1+r/100)² -p =1260

or, p(1+r/50+r²/10000-1)=1260

or, pr(1/50+r/10000)= 1260

or, r =10

& p=6000