Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The simple interest on ₹2500 is ₹100 more than simple interest on ₹2250 in 2 years then find the interest rate per annum.

Options:

5%

10%

20%

15%

Correct Answer:

20%

Explanation:

 \(\frac{P\;×\;R\;×\;T}{100}\) = 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%