Question
The difference between compound and simple interest on
₹10,000 for 2 years at r% p.a. is ₹49. Find r.Solution
ATQ,
Difference = 10000 × (r/100)² = 49
⇒ r² = 0.49 × 10000 /10000? Actually, (r/100)² × 10000 = 49 ⇒ r² = 49 ⇒ r = 7%.
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