Question

The C.I. on a certain sum for 2 years is Rs.410 and S.I. is Rs.400. The rate of interest per annum

Answer 1

Step-by-step explanation:

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ANSWER

⇒ It is given that simple interest in 2 years = Rs.400

⇒ Simple interest for 1 year = Rs.200

⇒ Hence, Compound interest for 1 year = Rs.200

⇒ Given compound interest for 2 years = Rs. 410

∴ Compound interest for 2 years = Compound interest 1st year + Compound interest 2nd year

⇒ Compound interest for 2nd year = Rs.410 - Rs.200 = Rs.210

⇒ That is interest on Rs.200 for 1 year = Rs.210-Rs.200=Rs.10

⇒ We know I=

100

P×T×R

⇒ 10=

100

200×1×R

⇒ 2R=10

∴ R=5%

Answer 2

Answer:

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Step-by-step explanation:

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