The difference in C.I. and S.I. for 2 years on a sum of money is Rs.160. If the S.I. for 2 years be Rs.2880, what is the rate percent?

Asked by Shikha Vanjani | 15th Jul, 2013, 04:39: PM

Expert Answer:

SI = 2880
Prt= 2880 
P*r *2 = 2880
Pr = 1440
 
Also, CI - SI = 160
CI = SI + 160
CI = 2880 + 160 = 3040
 
P[(1+r)^2  - 1) = 3040
P (1+r^2 + 2r - 1) = 3040
P(r^2 + 2r) = 3040
Pr *r + 2 Pr  = 3040
Substituting the value of Pr = 1440
1440r  + 2880 = 3040
1440r = 160
r = 160/1440 = 1/9 = 100/9 % = 11 1/9%

Answered by  | 15th Jul, 2013, 10:29: PM

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