What is the rate of compound interest annually?
I. An amount doubles itself in 5 years on
simple interest
II. Difference between the compound interest
and the simple interest earned on a certain
amount in 2 years is Rs. 400
III. Simple interest earned per annum is Rs.
2000
From (I) condition 1 = 1× R × 5/100 R=20% We can find the rate. from (ii) & (iii) given -CI-SI= 400 T=2y SI=2000 r= (400/2000)00 =100/5=20%
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