What is the Difference between Their Rates of Interest? if

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 :

  1. 0.1%
  2. 0.2%
  3. 0.3%
  4. 0.4%
Desire Adnan Default Asked on 5th August 2015 in Maths.
Add Comment
  • 1 Answer(s)

    Answer: (3) 0.3%
    Explanation:-
    Formula-
    Simple Interest = P x R x T/100
    Where, P = principal , R = rate, & T = time.

    Now, According to the question,
    1500 x R x 3/100 – 1500 x r x 3/100 = 13.50
    15 x 3 x R – 15 x 3 x r = 13.50
    45 (R – r) = 13.50
    R – r = 13.50/45
    R – r = 0.3 %.
    Then, the difference their between their rates of interest is 0.3%.

    Hence, the answer is (3) 0.3 %.

    Anurag Mishra Professor Answered on 5th August 2015.
    Add Comment
  • Your Answer

    By posting your answer, you agree to the privacy policy and terms of service.