On a certain principal,if the simple interest | vedclass

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(A) Simple Interest $(SI)$ for $2$ years $= ₹ 1400$.Since simple interest is the same for every year,$SI$ for $1$ year $= ₹ 1400 / 2 = ₹ 700$.The diff

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(A) Simple Interest $(SI)$ for $2$ years $= ₹ 1400$.Since simple interest is the same for every year,$SI$ for $1$ year $= ₹ 1400 / 2 = ₹ 700$.The difference between Compound Interest $(CI)$ and Simple Interest $(SI)$ for $2$ years is the interest earned on the interest of the first year.Difference $= CI - SI = ₹ 1449 - ₹ 1400 = ₹ 49$.This $₹ 49$ is the interest on the $SI$ of the first year $(₹ 700)$.Rate of interest $(R)$ $= (	ext{Difference} / SI 	ext{ of } 1 	ext{ year}) 	imes 100$.$R = (49 / 700) 	imes 100 = 7 \%$.

On a certain principal,if the simple interest for two years is ₹ $1400$ and the compound interest for two years is ₹ $1449$,what is the rate of interest (in $\%$) ?

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