the simple interest of a certain sum of money for 2 years at 5*1/2% is 6600 rupees. What will be the compound interest on that sum at the same rate for the same time period?
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Difference in C.I and S.I for 2 years
= Rs(696.30-660)
=Rs. 36.30.
S.I for one years = Rs330.
S.I on Rs.330 for 1 year =Rs. 36.30
Rate
= (100x36.30/330x1)%
= 11%
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