Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The difference between the simple interest received from two different sources on ₹2500 for 2 years is ₹12.50. The difference between their rates of interest is :

Options:

0.7%

0.18%

0.25%

0.3%

Correct Answer:

0.25%

Explanation:

S.I. = \(\frac{P × R × T }{100}\)

⇒ S.I.- S.I.1 = 12.50, (principal is same)

⇒ \(\frac{P × R_2 × 2 }{100} - \frac{P × R_1 × 2 }{100}\)= 12.50

⇒ \(\frac{2500}{100}\) × 2 (R2 - R1) = 12.50

⇒ (R2 - R1) = \(\frac{12.50× 100 }{2500 × 2}\)

⇒ (R2 - R1) = 0.25