Business Studies, asked by anugrah7076, 1 year ago

The difference between compound interest and simple interest on an amount of rs 15000 for 2 years is rs 96. what is the rate of interest per annum

Answers

Answered by Raju1197

4

Answer = 8%

Simple Interest Formula:- PNR/ 100

Compound Interest Formula:- P(1+R)^N/100

P- Principle, N- Tenure, R- Rate of Interest

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