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The difference between CI and SI on an amount of Rs. 15625 for 2 years is Rs. 625. What is the rate of interest per annum?1). 12%2). 15%3). 16%4). 20% |
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Answer» ACCORDING to the question CI - SI = 625 ⇒ CI - SI = P(R/100)2 ⇒ 15625 (R/100)2 = 625 ⇒ (R/100)2 = 625/15625 ⇒ R = 20% ∴ the REQUIRED RATE of interest is 20% |
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