The simple interest on ₹1350 is ₹20 more than simple interest on ₹1250 in 2 years then find the interest rate per annum.
Answer & explanation
Correct answer: option 2
\(\frac{P\;×\;R\;×\;T}{100}\) = S.I.
ATQ,
⇒ \(\frac{1350 × RT}{100}\) - \(\frac{1250 × RT}{100}\) = 20
⇒ \(\frac{RT}{100}\) × 100 = 20
⇒ RT = 20
⇒ R × 2 = 20 (Here T = 2)
⇒ R = 10%