Question
A certain sum of money invested at R% p.a. fetches a
compound interest (compounded annually) of 1400 and simple interest of Rs.1250 at the end of 2 years. Find the value of ‘R’.Solution
Difference between compound interest and simple interest for 2 years = 1400 – 1250 = Rs.150 Simple interest for 1 year = 1250/2 = Rs.625 So, R = (150/625) × 100 = 24%
More Simple and compound interest Questions
The costs that have already been incurred and cannot be recovered are called ____
Match List I with List II
