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      Question

      Compound interest on a certain sum of money for 2 years

      is Rs.3600 while the simple interest on the same sum for the same time period is Rs.3200. Find the rate of interest.
      A 20% Correct Answer Incorrect Answer
      B 25% Correct Answer Incorrect Answer
      C 12.8% Correct Answer Incorrect Answer
      D 8% Correct Answer Incorrect Answer

      Solution

      SI for 1 year = 3200/2 = Rs.1600 Difference between CI and SI for 2 years = Rs.(3600 – 3200) = Rs.400 Required rate = (400/1600) x 100 = 25%

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