a) 4%
b) 6%
c) 8%
d) 10%
Answer: c
Explanation:
$$\eqalign{
& {\text{SI for 1 year}} {\text{ = Rs 260}} \cr
& {\text{SI for 2 year}} {\text{ = 260}} \times {\text{2}} \cr
& {\text{ = Rs}}{\text{. 520 }} \cr
& {\text{Difference in (CI}} – {\text{SI)}} \cr
& \left( {540.80 – 520} \right){\text{ = Rs 20}}{\text{.8}} \cr
& {\text{Required rate % }} \cr
& {\text{ = }}\frac{{20.8}}{{260}} \times {\text{100}} \cr
& {\text{ = 8% }} \cr} $$
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