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