The compound interest on a certain sum for two years is Rs. 618 whereas the simple interest on the same sum at the same rate for two years is Rs. 600. The ratio of interest per annum is 1. 3%2. 18%3. 6%4. 9%

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Vikas TU · Answer

compound interest is A = P (1 + r/n) nt Hence given, 618 = P (1 + r) 2 and 600 = P*r*2/100 dividing both we get, 618/600 = (10(1+r)/r)^2 we get r= 3% approx.

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The compound interest on a certain sum for two years is Rs. 618 whereas the simple interest on the same sum at the same rate for two years is Rs. 600. The ratio of interest per annum is 1. 3%2. 18%3. 6%4. 9%

The compound interest on a certain sum for two years is Rs. 618 whereas the simple interest on the same sum at the same rate for two years is Rs. 600. The ratio of interest per annum is 1. 3%2. 18%3. 6%4. 9%

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