Simple Interest Ques 13
Question-
A sum of ₹ 2200 is invested at two different rate of interest. The difference between the interest got after 4 years is ₹ 202.40. What is the difference between the rate of interest?
(1) $3.3 \%$
(2) $2.3 \%$
(3) $3.5 \%$
(4) $2.5 \%$
(5) None of these
(Indian Overseas Bank PO Online Exam. 01.09.2013)
Show Answer
Correct Answer: (2)
Solution: (2)
If the rate of interest be $r_{1} \%$ and $r_{2} \%$ per annum, then
$ \frac{2200 \times 4\left(r_{1}-r_{2}\right)}{100}=202.40$
$ \Rightarrow r_{1}-r_{2}=\frac{202.40 \times 100}{2200 \times 4} $ $ =2.3 \% \text { per annum }$
BETA
