Question

the difference between compound interest and simple interest on an amount of 20000 for 2 years at the same rate of interest is ₹128.what is the rate of interest?​

Answer 1

amount=20000

T=2years

R=?

Interest =128

Apply the formula of Compound interest

Formula is A=P (1+R/100)^2

Then:

CI=A-P

After finding CI Apply The Fomula of SI