The C.I. on a certain sum for 2 years is Rs.410 and S.I. is Rs.400. The rate of interest per annum is ______________.
Dear Student!
Let the sum of money be Rs P and rate of interest be r % p.a.
S.I. on the sum of money, Rs P for 2 year
C.I on the given sum of money, Rs P for 2 years
Dividing (1) by (2), we get
Thus, the rate of interest is 5% p.a.
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