Cbse|Simple And Compound Interest|Part 1

Simple Interest|Compound Interest|Question Practice|OMR

The difference between simple and compound interest on Rs 1,000 for 3 years at 5% p.a. interest is:

When the interest is calculated annually, simple interest and compound interest are equal for the first year.

A person lent out certain sum on simple interest and the same sum on compound interest at a certain rate of interest per annum. He noticed that the ratio between the difference of compound interest and simple interest of 3 years and 2 years is 16:49. The rate of interest per annum is