Question

The difference between compound interest and simple interest on an amount of ₹15000 for 2 years is ₹96. What is the rate of interest per annum?

विकल्प

• 8%

• 10%

• 12%

• Data inadequate

Answer 1

8%
Explanation : 
We know for two year,

Sum = difference `× (100/R)^2`

∴ `15000=96xx(100/R)^2`

⇒ `R^2=(96xx1000)/15000 ⇒ R= 8%`