the compound interest for two years on a capital is rs two more than the simple interest for the same period. if the rate of interest is 5% per year find the capital
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Step-by-step explanation:
The ratio of the amount for two years under compound interest annually and for one year under simple interest is 6:5. When the rate of interest is same, then find the value of rate of interest?
Medium
Answer
Let the principle = P, Rate = x% per annume
⇒
P(1+
100
r×1
)
P(1+
100
r
)
2
=
5
6
(1+
100
r
)=
5
6
⇒
100
r
=
5
61
r=
5
100
=20
∴
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