The difference between the compound interest and the simple interest accrued on an amount of Rs. 18,000 in 2 years was Rs. 405. What was the rate of interest p.c.p.a.
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Answered by
6
- Let the rate be R% p.a. Then,
- [1800(1+R100)2−1800]−(1800*R*2100)=405
- 1800[(100+R)210000−1−2R100]=405
- 1800[(100+R)2−10000−200R10000]=405
⇔
- 95*R2=405 ⇔R2=(405*59)=225⇔R=15
- Rate = 15%.
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sashreeksom:
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Answered by
5
Answer : 15% ✔✔
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So, the rate of interest p.c.p.a will be 15%
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