Simple interest for the sum of ₹ 1230 for 2 yr is ₹ 10 more than the simple interest for ₹ 1130 for the same duration. Find the rate of interest. `

Question

Accepted Answer

According to the question, [(1230 x 2 x R)/100] - [(1130 x 2 x R)/100] = 10 ⇒ (200 x R)/100 = 10 ∴ R = 5%

Discussion & Comments