Question

The difference between the compound interest and the simple interest on Rs 28,000 for 2 years is Rs 70 at the same rate of interest p.a. 1) What is the rate of interest? 2) Calculate the interest in the second year under compound interest.


please solve and answer​

Answer 1

Answer:

GIVEN:

P=28000,

Time = 2 years,

Difference = 70.

Let the rate of interest be R%. ⇒ R = 5. ... Therefore, Compound Interest for the 2nd year

= 1470.23-Apr-2020