Q3. Simple interest and compound interest for a certain sum of money is Rs 600 and R 648 respectively for two years. What is the rate of interest?

• 16%
  
  simple interest after two years is 600
  SI for the first year will be 300
  
  CI for the first year is also 300
  for the second year 300+(300+INTREST FOR THE FIRST YEAR INTREST)=648
  
  so here the interest for first year interest is RS 48
  
  for 300 rupees interest is 48 rupees
  for 100 rupees it will be 16%
• 10 years agoHelpfull: Yes(3) No(0)