Question

On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs

696.30, the rate of interest being the same in both cases. pls tell what and why the step is being done with what logic. the most explainatory answer will marked the brainliest.​

Answer 1

Answer:

ANSWER

Difference in C.I and S.I for 2 years=696.30−660= Rs. 36.30

S.I for 1 year = Rs. 330

S.I on 330 for 1 year = Rs. 36.30

S.I =

100

PRT

⇒36.30=

100

330×R×1

⇒R=

330

36.30×100

=11 %

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