1.

The compound interest on a certain sum for 2 years is Rs 412 and the simple interest is Rs 400. What is the rate of interest per annum ?

Answer»

6%



In one year SI = 400/2 = 200
∴ Difference (412 - 400 = 12) is the interest on 200 in one year.
∴ Interest on Rs 100 for 1 year= 12/200 X 100 = 6
So rate is 6% per annum.



Discussion

No Comment Found

Related InterviewSolutions