Question

The compound interest on a certain sum for 2 years is rs. 756 and simple interest is rs. 720. if the sum is invested such that the si is rs. 900 and the number of years is equal to the rate percent per annum, find the rate percent

Answer 1

Solution :-

The difference between the compound interest and the simple interest for 2 years is the interest on the first years's interest.

First year's simple interest = Rs. 720/2 = Rs. 360

Compound Interest - Simple Interest = Rs. 756 - Rs. 720 

= Rs. 36

Therefore, Interest on Rs. 360 for 1 year = Rs. 36

Interest on Rs. 100 for 1 year = (36*100)/360

= Rs. 10 

Therefore, rate of interest = (10*100)/100 = 10 %

Calculation of Principal amount -

Simple Interest = (P*R*T)/100

⇒ 720 = (P*10*2)/100

⇒ 20p = 72000

⇒ P = 72000/20

⇒ P = 3600

Principal amount is Rs. 3600

Answer 2

Answer:

5%

Step-by-step explanation:

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