The simple interest on ₹2500 is ₹100 more than simple interest on ₹2250 in 2 years then find the interest rate per annum.
Answer & explanation
Correct answer: option 3
\(\frac{P\;×\;R\;×\;T}{100}\) = S.I.
ATQ,
⇒ \(\frac{2500 × RT}{100}\) - \(\frac{2250 × RT}{100}\) = 100
⇒ \(\frac{RT}{100}\) × 250 = 100
⇒ RT = 40
⇒ R × 2 = 40 (Here T = 2)
⇒ R = 20%