Question

The difference between the C.I and S.I on the same sum of Rs. 8000 for 2 years is Rs. 20. Find the Rate of Interest.​

Answer 1

Answer:

Step-by-step explanation:

the formula to find the rate of interest when sum , difference and time for 2 years is given then

sum=10,000*d/r^2

here r=rate of interedt

d=difference

Note: this formula is applicable only if time period is 2 years

in other cases we have to use the formulas of simple interest and compound interest and calculate them seperatly.

now

r^2=10,000*d/sum

=10,000*20/(8000)

=25

r=5