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The compound interest on a certain sum of money at a certain rate for 2 years is Rs. 40.80 and the simple interest on the same sum is Rs. 40 at the same rate and for the same time. The rate of interest is = ?

12% per annum
23% per annum
34% per annum
45% per annum

Answer:- 1

Explanation:-

Solution:

Difference in CI and SI for 2 years

\begin{aligned} = (40.80 - 40) \\ = Rs 0 .80 \\ SI for first year \\ = \frac{40}{2} = Rs . 20 \\ Required Rate % \\ = \frac{0.80}{20} \times 100 = 4 % \end{aligned}

$\eqalign{ & = \left( {40.80 - 40} \right) \cr & = {\text{Rs 0}}{\text{.80}} \cr & {\text{SI for first year }} \cr & {\text{ = }}\frac{{40}}{2} = {\text{Rs}}{\text{.}}\,20 \cr & {\text{Required Rate }}\% \cr & {\text{ = }}\frac{{0.80}}{{20}} \times 100 = 4\% \cr}$

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", "dateCreated": "7/24/2019 10:09:12 AM", "author": { "@type": "Person", "name": "Nitin Sir" } }, "suggestedAnswer": { "@type": "Answer", "text": "

Solution:

Difference in CI and SI for 2 years

\begin{aligned} = (40.80 - 40) \\ = Rs 0 .80 \\ SI for first year \\ = \frac{40}{2} = Rs . 20 \\ Required Rate % \\ = \frac{0.80}{20} \times 100 = 4 % \end{aligned}

$\eqalign{ & = \left( {40.80 - 40} \right) \cr & = {\text{Rs 0}}{\text{.80}} \cr & {\text{SI for first year }} \cr & {\text{ = }}\frac{{40}}{2} = {\text{Rs}}{\text{.}}\,20 \cr & {\text{Required Rate }}\% \cr & {\text{ = }}\frac{{0.80}}{{20}} \times 100 = 4\% \cr}$ ", "dateCreated": "7/24/2019 10:09:12 AM" } }

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