1.

The difference of compound interest and simple interest for 3 years and for 2 years are in ratio 23 : 7 respectively. What is rate of interest per annum (in %)?1). 200/72). 100/73). 300/74). 400/7

Answer»

<P>⇒ (CI – SI)3/(CI – SI)2 = [P(R/100)2 × (300 + R)/100]/ P(R/100)2 = 23/7

⇒ (CI – SI)3/(CI – SI)2 = (300 + R)/100 = 23/7

⇒ (CI – SI)3/(CI – SI)2 = 2100 + 7R = 2300

⇒ 7R = 200

∴ R = 200/7



Discussion

No Comment Found