Question
If the difference between compound interest and simple
interest at 10% p.a is Rs 1 for two years then find the value of sum.Solution
Rate of interest at SI for two years = 10 × 2 = 20%
Rate of interest at CI for two years = 10 + 10 + 100/100 = 21%
Difference = 21 - 20 = 1%
1%→ Rs 1
100%→ Rs 100
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