Question

Ashakti invested the same amount of money in two distinct Systematic Investment Plans (SIPs), SIP 'X' and SIP 'Y,' both for a duration of 2 years. SIP 'X' yields simple interest at a rate of 'R%' per annum, and SIP 'Y' provides compound interest (compounded annually) at the same interest rate as SIP 'X'. If the ratio of the interest earned on SIP 'X' to that on SIP 'Y' is 100:109, determine the value of 'R'.

A 25%
B 18%
C 22%
D 10%
E none of these
Practice Next

More Simple and compound interest Questions

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)