Interest received from scheme ‘A’ = 8500 × 13 × 2 ÷ 100 = Rs. 2210 Let the rate of simple interest offered by scheme ‘B’ = ‘k%’ p.a. ATQ; 6500 × 2 × k ÷ 100 = 2210 Or, 130k = 2210 Or, k = (2210/130) = 17 So, rate of simple interest offered by scheme ‘B’ = 17% per annum.
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