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Narender

· started a discussion

· 1 Months ago

N (Question: 273533.0 )

2nd year ka SI 330HOGA

Question:

On a sum of money, simple interest of 2 years is Rs.660 and compound interest is Rs.696.30, the rate of interest being the same in both cases. Find the rate of interest.

Options:
A)

5%

B)

12%

C)

10%

D)

11%

Solution:

Ans: (d)

  

Knowledge Expert

· commented

· 1 Months ago

Dear Student,
Use the formula CI - SI = P*(R^2) / 100^2
Difference is 36.30 .
Now use SI = P*R*T/100 and from here you get P*R = 33000 , put this in above equation ,
36.30 = 33000*R/10000
R=11%

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