Question

The compound interest of certain sum of money for 2 years is Rs 1100 and the simple interest is Rs 1000 if this sum is invested such that the simple interest is Rs 400 and number of years is equal to rate per annum, find the new rate percent

Answer 1

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Answer 2

The new rate is 4%.

Step-by-step explanation:

Since we have given that

compound interest = Rs. 1100

Simple interest = Rs. 1000

Number of years = 2

So, it becomes,

$SI=\dfrac{200\times CI}{200+R}\\\\1000=\dfrac{200\times 1100}{200+R}\\\\\dfrac{5}{1100}=\dfrac{1}{200+R}\\\\\dfrac{1}{220}=\dfrac{1}{200+R}\\\\200+R=220\\\\R=220-200=20\%$

$1000=\dfrac{P\times 20\times 2}{100}\\\\1000\times \dfrac{5}{2}=P\\\\P=2500$

If Simple interest = Rs. 400 and the number of years is equal to rate per annum.

$400=\dfrac{2500\times R\times t}{100}\\\\\dfrac{4}{25}=\dfrac{R^2}{100}\\\\R^2=16\\\\R=4\%$

Hence, the new rate is 4%.

# learn more:

The compound interest of certain sum of money for 2 years is Rs 1100 and the simple interest is Rs 1000 if this sum is invested such that the simple interest is Rs 400 and number of years is equal to rate per annum, find the new rate percent

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