📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    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