Question

The compound interest on certain sum of money at the certain rate for 2 years is 40.80 and the simple interest on the same sum is 40 at the same rate and same time. Find the rate of interest​

Answer 1

Answer:

Difference in CI and SI for 2 years

=(40.80−40)=Rs 0.80SI for first year = 402=Rs.20Required Rate % = 0.8020×100=4%

Step-by-step explanation:

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Answer 2

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