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Grade 12th passElectrostatics

If compound interest for two successive years is Rs.110 and Rs.121 respectively, then the rate of interest is

Profile image of Arun
7 Years agoGrade 12th pass
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1 Answer

Profile image of Vikas TU
7 Years ago
Rs 110 and 121 is the compound interest 
Additional interest = 121-110 = 11 in the second year.
So,  Rate of interest = 11*100/(110*1)
This will be equal to 10%