📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      If the difference in interest between two banks on Rs

      500 for 2 years is 12.50 then what will be the difference in their rates?
      A 2.20% Correct Answer Incorrect Answer
      B 2.25% Correct Answer Incorrect Answer
      C 1.25% Correct Answer Incorrect Answer
      D 3.25% Correct Answer Incorrect Answer

      Solution

      P = 500, t= 2years Let the rate of interest in the first year be r and the second year will be R. ATQ- (500×2×r)/100 – (500×2×R) /100 = 12.5 (r-R) = 12.5/10 = 125/100 =1.25%

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question