A and B borrowed Rs. 3000 and Rs. 3200 respectively at the same rate of interest for 2$1/2$ years. If B paid Rs. 40 more interest than A, find the rate of interest.
Options:
A . 7%
B . 5%
C . 6%
D . 8%
Answer: Option D Answer: (d)Rate of interest = r % per annumS.I. = ${\text"Principal × Rate × Time"/100$According to the question,${3200 × 5 × r}/{100 × 2} - {3000 × 5 × r}/200$ = 4080r - 75r = 405r = 40 ⇒ r = $40/5$= 8% per annum Using Rule 13The difference between the S.I. for a certain sum $P_1$ deposited for time $T_1$ at $R_1$ rate of interest and another sum $P_2$ deposited for time $T_2$ at $R_2$ rate of interest isS.I. = ${P_2R_2T_2 - P_1R_1T_1}/100$
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