the difference between compound interest and simple interest on a sum of $15000 for 2 years is $96. what is the rates of interest p.a
Answers
Answered by
3
difference for CI - SI for 2 years is P(R/100)²
⇒96 = 15000(R/100)²
⇒96 = 3R²/2
⇒192 = 3R²
⇒R² = 64
⇒R = 8
∴ Rate of interest is 8%
⇒96 = 15000(R/100)²
⇒96 = 3R²/2
⇒192 = 3R²
⇒R² = 64
⇒R = 8
∴ Rate of interest is 8%
Answered by
0
Answer:
96=15000(r/100)2
96=3r2/2
192=3r2
r2=64
r=8%
hope this help you
Step-by-step explanation:
Similar questions