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Start learning 50% faster. Sign in nowInterest received from scheme ‘A’ = 7000 × 15 × 2 ÷ 100 = Rs. 2100 Let the rate of simple interest offered by scheme ‘B’ = ‘k%’ p.a. ATQ; 5000 × 2 × k ÷ 100 = 2100 Or, 100k = 2100 Or, k = (2100/100) = 21 So, rate of simple interest offered by scheme ‘B’ = 21% per annum.
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