The difference between the simple interest received from two different sources on ₹ 1500 for 3 years is ₹… · ABC26GN4075

Subject: General Aptitude · Chapter: Simple Interest

The difference between the simple interest received from two different sources on ₹ 1500 for 3 years is ₹ 13.50. The difference between their rates of interest is
(a)0.1\%
(b)0.2\%
(c)0.3\%
(d)0.4\%
(e)None of these
Answer
Answer (as printed): C
Explanation
$\left(\frac{1500 \times R_{1} \times 3}{100}\right)-\left(\frac{1500 \times R_{2} \times 3}{100}\right)=13.50$ $$\Leftrightarrow \quad 4500\left(R_{1}-R_{2}\right)=1350 \Leftrightarrow R_{1}-R_{2}=\frac{1350}{4500}=0.3 \% \text {. }$$

Explanation as extracted from the printed page; notation may be imperfect.

Study loop for Simple Interest

1. Practise the PYQsPrevious-year questions, with answers

· Browse this chapter in the app