New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Amit invested a total of Rs. 14,000, dividing the amount

    between two schemes: one offering compound interest (compounded annually) and the other offering simple interest, both at the same rate. After 2 years, the difference between the compound interest and simple interest earned is Rs. 315. Find the annual rate of interest.
    A 15 Correct Answer Incorrect Answer
    B 12 Correct Answer Incorrect Answer
    C 10 Correct Answer Incorrect Answer
    D 18 Correct Answer Incorrect Answer
    E 20 Correct Answer Incorrect Answer

    Solution

    C.I - S.I = P (R/100) 2
    Rs. 315 = 14000 * R 2 /10000
    R 2  = 3150000/14000
    R 2  = 225
    R = 15%

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