ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    The difference between compound interest and simple

    interest on a sum of Rs. 20,000 for 2 years at the same rate is Rs. 200. What is the annual rate of interest?
    A 15% Correct Answer Incorrect Answer
    B 10% Correct Answer Incorrect Answer
    C 20% Correct Answer Incorrect Answer
    D 25% Correct Answer Incorrect Answer

    Solution

    ATQ, For 2 years, Difference (CI тИТ SI) = P ├Ч (r┬▓ / 100┬▓), where r is rate %. Given: 200 = 20,000 ├Ч r┬▓ / 10,000 => 200 = 2 r┬▓ => r┬▓ = 100 => r = 10%

    Practice Next
    More Simple and compound interest Questions
    ask-question