The difference between C.I. and S.I. on
* 7,500 for two years is 12 at the same rate
of interest per annum. Find the rate of interest.(Using Formula)
Answers
Answered by
7
Answer:
Hello mate..
Step-by-step explanation:
Simple interest is a method of calculating the interest charge on a loan and is calculated by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
And Compound interest is the addition of interest to the principal sum of a loan or deposit.
Now, Sum = difference ( 100/r)² 7500
= 12( 100/r)² 7500/120000
= 1/r² 0.0625
= 1/r² r²=16 taking under root √r²= √16 r= 4%
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Answered by
1
Answer:
7500 for two years is Rs. 12 at the same rate of interest per annum. I = PRT100, where P is the principle, R is the rate of interest and T is the time period. ...
Step-by-step explanation:
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