The Difference Between Compound Interest and Simple Interest on an Amount of ₹15000 for 2 Yr is ₹96. What is the Rate of Interest per Annum? - Mathematics
The difference between compound interest and simple interest on an amount of ₹15000 for 2 years is ₹96. What is the rate of interest per annum?
We know for two year,
Sum = difference `× (100/R)^2`
⇒ `R^2=(96xx1000)/15000 ⇒ R= 8%`
Concept: Simple and Compound Interest
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