Practicing Success
Practicing Success
CUET Preparation Today
The difference between the compound interest (compounded annually) and the simple interest on a sum of ₹5000 at a certain rate of interest for 2 years is ₹200. The rate of interest per annum is: |
23% 25% 20% 22% |
20% |
Difference b/w CI and SI for 2 years = Principal × R% × R% ⇒ 200 = 5000 × \(\frac{R^2}{10000}\) ⇒ R2 = 400 ⇒ R = 20% |
