Question

Question 6.

b) The difference between the compound interest and the simple interest on Rs 25000 in 2 years is Rs 250 at the
same rate of interest per annum. Find the rate of interest
​

Answer 1

Rate of interest is 10 % p.a.

Step-by-step explanation:

STEP:-1

given values in the question

principle ( P ) = 250

STEP:-2

We know that difference between Compound interest  and simple interest for 2 years is $\frac{PR^{2} }{10000}$

STEP:-3

Substitute the given values in above formula

so that

$250=}\frac{25000*R^{2} }{10000}$

STEP:-4

rearrange the equation

$R^{2} =\frac{250*10000}{25000}$

$R^{2} =100$

R = ±10 ignoring negative value

so that

R = 10

Therefore the rate of interest is 10 % p.a.

To know more about difference between the CI and the SI, visit:

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