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 is ______________.

Answer 1

Solution:-
The simple interest for 2 years = Rs. 400
So, S. I. for 1 year = 400/2 = Rs. 200
Compound Interest for 1 years = Rs. 200
And C. I. for two years = Rs. 410
Therefore Compound interest for 2 years = C. I. for 1st year + C.I. for 2nd year
C. I. for 2nd year = Rs. 410 - Rs. 200 = Rs. 210
The difference = 210 - 200 = Rs. 10
So, after 1 year Amount = Rs. 210 and P = Rs.200
A = P(1 + r/100)¹ {This formula is used with Amount as Rs. 210 because the compound interest and simple interest for the 1st year are same.}
210 = 200(1 + r/100)¹
210/200 = 1 + r/100
1.05 = 1 + r/100
1.05 - 1 = r/100
0.05 = r/100
r = 100*0.05
r = 5 %
Answer.

Answer 2

Answer:

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