Question

simple interest on sum for 4 years is 24000 and the compound interest on the same sum at same rate of interest (intrest is compounded annualy) for 2years is 12750.what is the rate of interest per annum?​

Answer 1

Answer:

Increase in Interest Rate by 20% or 1/5th will increase interest by 1/5th.

Increase of Rs 1800 means original interest is 1800 x 5 = 9000.

Original sum = 24000 - 9000 = 15000

Rate of interest = 9000/15000 x 1/4 x 100 = 15%

Answer 2

Answer:

Increase in Interest Rate by 20% or 1/5th will increase interest by 1/5th.

Increase of Rs 1800 means original interest is 1800 x 5 = 9000.

Original sum = 24000 - 9000 = 15000

Rate of interest = 9000/15000 x 1/4 x 100 = 15%

Step-by-step explanation: