Question

The difference of simple interest and compound interest on an amount of rs 15000 for 2 years

Answer 1

Answer:

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

⇒R2=(96×23)=64

⇒R=8∴Rate=8%