πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!


    Question

    Rs. 6500 is invested in scheme β€˜A’ for 2 years and

    Rs. 6500 is invested in scheme β€˜B’ for 2 years. Scheme β€˜A’ offers simple interest of 14% p.a. If the interest received from both the schemes are equal, then find the rate of simple interest (p.a.) offered by scheme β€˜B’.
    A 14% Correct Answer Incorrect Answer
    B 10% Correct Answer Incorrect Answer
    C 13% Correct Answer Incorrect Answer
    D 15% Correct Answer Incorrect Answer

    Solution

    Interest received from scheme β€˜A’ = 6500 Γ— 14 Γ— 2 Γ· 100 = Rs. 1820 Let the rate of simple interest offered by scheme β€˜B’ = β€˜k%’ p.a. ATQ; 6500 Γ— 2 Γ— k Γ· 100 = 1820 Or, 130k = 1820 Or, k = (1820/130) = 14 So, rate of simple interest offered by scheme β€˜B’ = 14% per annum.

    Practice Next
    ask-question