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    Question

    The difference of S.I and C.I on an amount of Rs. 40000

    for 2 years is Rs. 196. What is the rate of interest?
    A 6% Correct Answer Incorrect Answer
    B 7% Correct Answer Incorrect Answer
    C 9% Correct Answer Incorrect Answer
    D 8% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    => CI – SI = P(R/100)2 => 196 = 40000 (R/100)2 => (R/100)2= 49/10000 => R/100 = 7/100 => R = 7%

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