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
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Answer = 8%
Simple Interest Formula:- PNR/ 100
Compound Interest Formula:- P(1+R)^N/100
P- Principle, N- Tenure, R- Rate of Interest
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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