On a certain sum, C.I. is Rs 41 and SI is Rs 40. for 2 years. What is the rate p.a
To find the rate per annum (p.a.), we can use the formula:
Rate = ((Simple Interest) / (Principal)) * (100 / Time)
In this case, the Simple Interest (SI) is given as Rs 40 and the Time (T) is given as 2 years.
Let's assume the Principal amount is P.
Using the formula, we have:
Rate = ((40) / (P)) * (100 / 2)
Rate = (20 / P)
Now, we also have the Compound Interest (C.I.) given as Rs 41.
The formula to calculate Compound Interest is:
Compound Interest = P * [(1 + (Rate / 100))^Time - 1]
Substituting the values, we have:
41 = P * [(1 + (20 / P) / 100))^2 - 1]
To solve this equation, we can make use of an iterative method or numerical approximation techniques such as Newton's method or bisection method.
The idea is to find a value of P that satisfies the above equation, and then we can calculate the rate using the formula:
Rate = (20 / P)
Alternatively, if you have any additional information or assumptions regarding the problem, please provide them, and I can assist you further in finding the rate per annum.