On a sum of money, the simple interest for 2 | vedclass

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Question

Let the rate of interest be $R \%$.

$\begin{array}{l}	ext { S.I. }=\frac{P 	imes 2 	imes R}{100}=660 \	ext { C.I. }=P\left[\left(1+\frac{R}{10

Vedclass · Accepted Answer

$11$

Vedclass · Answer

Let the rate of interest be $R \%$.

$\begin{array}{l}	ext { S.I. }=\frac{P 	imes 2 	imes R}{100}=660 \	ext { C.I. }=P\left[\left(1+\frac{R}{100}ight)^{2}-1ight]=696.30\end{array}$

$\frac{(2)}{(1)} \Rightarrow \frac{\left[\left(1+\frac{R}{100}ight)^{2}-1ight]}{\frac{2 R}{100}}=\frac{696.30}{660}$

$\Rightarrow \quad \frac{100}{2 R}\left(\frac{R^{2}}{100^{2}}+\frac{2 R}{100}ight)=1.055$

$\begin{array}{ll}\Rightarrow & \frac{R}{200}+1=1.055 \	ext { or } & R=(1.055-1) 	imes 200=11 \%\end{array}$

On a sum of money, the simple interest for $2$ $years$ is ₹ $660$, while the compound interest is ₹ $696.30$, the rate of interest being the same in both the cases. The rate of interest (In $\%$) is

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