Question

the difference between the compound interest a Nd the simple interest on sum of 15000 for 2 years is 96. what is rate of interest​

Answer 1

Answer:

8%

Step-by-step explanation:

(15000*(1+r/100)^2 -15000) -((15000*r*2)/100)=96

15000((1+r/100)^2 -1- 2r/100)=96

15000((100+r)^2 -10000 - (200*r))/10000=96

r^2=(96*2)/3=64

r=8%

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