Maths problem(C.I.)?

On a sum of money, the S.I. for 2 yrs is Rs 660,while C.I. is Rs. 696.30, the rate of interest being same in both the cases. Find the rate of interest.

Maths problem(C.I.)?
Hi there, the solution is a bit tough to digest but very simple if ur basics r clear.





SI for 2 yrs. = Rs.660


So, SI for 1st yr. = 660/2 = Rs.330





So, CI for 1st yr. = SI for 1st yr. = Rs.330


So, CI for 2nd yr. = 696.30 - 330 = Rs.366.30





Now, there's a formula, follow it carefully :


CI of 2nd conversion peroid - CI of 1st conversion period = SI on the interest of the 1st conversion.





So, CI of 2nd conversion peroid - CI of 1st conversion period = 366.30 - 330 = Rs.36.30





So, Rs.36.30 = SI on interest of 1st conversion period


=%26gt; 36.30 = (330*r)/100


=%26gt; 3630 = 330*r


=%26gt; r = 11%.





Also, principal = (SI*100)/r*t = (330*100)/11*1 = Rs.3000.





Good day....
Reply:Use the formulae you must have for geometric progression
Reply:rate of interest is 11%.