Question

The difference between compound interest and simple interest on Rs. 1,500 at the rate of 9.5% per annum for 1 year is:​

Answer 1

then =13.50 =1500×3×r1 ÷100 -1500×3×r2 ÷100

13.50=4500÷100(r1-r2)

r1 - r2 =135÷450

r1 - r2 =27÷90 =3÷10 = 0.3