1.

The difference between CI and SI on an amount of Rs. 15625 for 2 years is Rs. 625. What is the rate of interest per annum?1). 12%2). 15%3). 16%4). 20%

Answer»

ACCORDING to the question

CI - SI = 625

⇒ CI - SI = P(R/100)2

15625 (R/100)2 = 625

⇒ (R/100)2 = 625/15625

⇒ R = 20%

∴ the REQUIRED RATE of interest is 20%


Discussion

No Comment Found

Related InterviewSolutions