The difference between C.I and S.I on Rs 7500 for 2 years is Rs 12 at the same rate of interest per annum. Find the rate of interest
Answers
Answered by
54
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%
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%
Answered by
41
Answer:
Step-by-step explanation:
Attachments:
Similar questions
Biology,
7 months ago