On A Sum Of Money, The Simple Interest For 2 Years Is Rs. 660,while T

1.	On A Sum Of Money, The Simple Interest For 2 Years Is Rs. 660,while The Compound Interest Is Rs.696.30,the Rate Of Interest Being The Same In Both The Cases. The Rate Of Interest Is?
Answer» 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%. 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%.

On A Sum Of Money, The Simple Interest For 2 Years Is Rs. 660,while The Compound Interest Is Rs.696.30,the Rate Of Interest Being The Same In Both The Cases. The Rate Of Interest Is?

Answer»

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

= (100x36.30/330x1)%

= 11%.

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%.