The simple interest and compound interest on
a certain sum for 2 years are * 800 and 880
respectively. The rates of interests (in % p.a.) on
both the sums is the same. If the interest on the
sum lent at compound interest is compounded
annually, find the rate of interest (in %p.a.)
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Answer:
Step-by-step explanation:
SI =800
Per year interest=400
% of interest=(80/400)×100=20%
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