Question

The difference between compound interest and simple interest accrued on an amount of ` 18,000 in 2 years is ` 405. Find the rate of interest.

Answer 1

C.I -S.I =P(R/100)^2

405=18000(R^2/10000)

(405*10000)/18000=R^2

R^2=225

Ans R=15%

Answer 2

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