Register Now

Login

Lost Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is ?

a) 0.1%
b) 0.2%
c) 0.3%
d) 0.4%

Answer: c
Explanation: Let the rate of interest for two different sources is r1 and r2 respectively.
$$\eqalign{ & \frac{{1500 \times {{\text{r}}_1} \times 3}}{{100}} – \frac{{1500 \times {{\text{r}}_2} \times 3}}{{100}} \cr & = 13.50 \cr & 4500{{\text{r}}_1} – 4500{{\text{r}}_2} = 1350 \cr & \left( {{{\text{r}}_1} – {{\text{r}}_2}} \right) = \frac{{1350}}{{4500}} = 0.3\% \cr} $$

Join The Discussion