Question

Q. If Rs1875 amounts to Rs 2028 in 2 years at compound interest at a certain rate, then how much will Rs875 amount to in 2 years at same rate?
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Answer 1

Simple Interest is the rate at which we lend or borrow money. In the following section, we will define the important terms and formulae that will help us solve and understand the questions on the simple interest. We will define the concept of Simple interest and use these formulae and definitions to solve questions that we expect will come from this section. Let us begin with the definitions!