Practicing Success
Difference between compound interest and simple interest on a sum of Rs. 900 for two years is Rs. 1. Find rate of interest. |
11\(\frac{1 }{9}\) 9\(\frac{1 }{11}\) 3\(\frac{1 }{3}\) 6\(\frac{2 }{3}\) |
3\(\frac{1 }{3}\) |
Difference between CI and SI for 2 years = P(\(\frac{r}{100}\))² ATQ, ⇒ P(\(\frac{r}{100}\))² = 1 ⇒ 900(\(\frac{r}{100}\))² = 1 ⇒ (\(\frac{r}{100}\))² = \(\frac{1}{900}\) ⇒ \(\frac{r}{100}\) = \(\frac{1}{30}\) ⇒ Rate = \(\frac{10}{3}\)% = 3\(\frac{1 }{3}\)% |