Question

The difference between the compound
and simple interests is 1/100 times the sum.
Find the rate of interest per annum.​

Answer 1

Answer:

Here is your answer

P = Rs 16000

R = 2%p.a

T = 3 years

SI = PRT/100

Now

For Compound Interest

A = P(1+ R/100)^n

Therefore Compound Interest is

= A - P

= 16,979.328 - 16000

= Rs 979.328

Now The difference between Compound Interest and simple interest is

= 979.328 - 960

= Rs 19.328

Step-by-step explanation:

Answer 2

Answer:

19.328..........

Step-by-step explanation:

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