[12%] The difference between simple interest and compound interest at the same rate for Rs.5000 for 2 year

For Competitive Exams

The difference between simple interest and compound interest at the same rate for Rs.5000 for 2 years is Rs.72. The rate of interest is :

10%

12%

Explanation:

[5000×(1+R1002)−5000]−5000×2×R100=72[5000×(1+R1002)−5000]−5000×2×R100
=72⇒5000[(1+R1002)−1−R50]=72⇒5000[(1+R1002)−1−R50]=72
⇒1+R2100+2R100−1−R50=725000⇒1+R2100+2R100−1−R50=725000
⇒R2=(725000×10000)=144⇒R2=(725000×10000)=144 or R = 12%

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