A sum of Rs. 2600 is invested at two different rates of interest. The difference between the simple interests got after 4 years is Rs 402.80 at these two rates, what is the difference between the rates of interest?
Correct Answer: 3.87
Explanation:
Let the two different rates of interests be r1 and r2 respectively.
From the given data,
Hence, the difference in the interest rates = 3.87