principal-6400RS ,R-7℅,T-225days Find the intereset
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Given, SI=4800
CI=5088
Say the principal amount was P and rate of interest is r% p.a for two years
∴ SI=100PT=100P×2×r
⇒4800=1002Pr
⇒240000=Pr⟶(1)
Similarly CI=P(1+100r)2−P
⇒5088=P[(1+100r)2−1]⟶(2)
Substituting (1) in (2) we get
5088=r240000[1+1002r2+1002r−1]
⇒2400005088=1002r+1002
⇒0.021
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