the difference between the co and si on 8400 on 2 years is 21 at the same rate of interest per year. find the rate of interest
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the difference between si and compound interest is
P(r/100)^2
so
21= 8400(r/100)^2
(r/100)^2 = 1/400
r/100= 1/20
r=5%
P(r/100)^2
so
21= 8400(r/100)^2
(r/100)^2 = 1/400
r/100= 1/20
r=5%
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