Question

the simple interest and compound interest on certain sum of money for two years are $400 and $410 respectively. find the sum of money and rate of interest​

Answer 1

Answer:

489000

$57.62

okkkkkkkkkkkkkkkkkkkkkkkk

Answer 2

⇒  It is given that simple interest in 2 years = Rs.400

⇒  Simple interest for 1 year = Rs.200

⇒  Hence, Compound interest for 1 year = Rs.200

⇒  Given compound interest for 2 years = Rs. 410

∴   Compound interest for 2 years = Compound interest 1st year + Compound interest 2nd year

⇒  Compound interest for 2nd year = Rs.410 - Rs.200 = Rs.210

⇒  That is interest on Rs.200 for 1 year = Rs.210-Rs.200=Rs.10

⇒  We know I=  P×T×R /100

⇒  10=  200×1×R /100

⇒  2R=10

∴    R=5%

HOPE IT HELPS YOU

MARK ME AS BRAINLIEST PLEASE