Question

The CI on a certain sum for 2 years is Rupees 41 and SI is Rupees 40, then,the rate of interest per annum is​

Answer 1

Step-by-step explanation:

Supposing that Rs is rupees, CI is compound interest over two years, SI is simple interest in two years, and p.a. means per annum,

1 rupee interest was earned on the first year's interest, during the second year.

Let S be the original invested sum and r be the annual rate.

S*r = 20

S*r^2 = 1

r = 1/20 = 5%

S = 20 Rs

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