Question

the compound interest on certain money for 2 years at the rate of 10% is rupees 2100 find the sum find the rate of interest will fetch him the same interest in 2 years time if the money is given on simple interest

Answer 1

Compound interest =  Rs 2100

Years = 2

Interest rate = 10%

Find the principal amount

P + I = P(1 + r/100)ⁿ

P+ 2100 = P ( 1 + 0.1)²

P + 2100 = 1.21 P

1.21 P - P = 2100

0.21 P = 2100

P = 2100  ÷ 0.21

P  = Rs 10,000

Answer: The principal amount is Rs 10000

Principal = Rs 10000

Year = 2 years

Interest = Rs 2100

Find the interest rate:

I = PRT /100

2100 =  [ 10000 (2) R ] / 100

2100 = 200 x R

R = 2100 ÷ 200

R =  10.5%

Answer: The interest rate is 10.5%

Answer 2

Answer:

simple interest 10000 and rate 10.5