Question
On a sum of money, the simple interest for 2 years is Rs. 660, while the compound interest is Rs. 696.30, the rate of interest being the same in both the cases. The rate of interest is:
Answer: Option D
- Difference in C.I. ans S.I. for 2 years = Rs. (696.30 - 660) = Rs. 36.30 S.I. for one year = Rs. 330. S.I. on Rs. 330 for 1 year = Rs. 36.30 Rate = 100 x 36.30 330 x 1
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- Difference in C.I. ans S.I. for 2 years = Rs. (696.30 - 660) = Rs. 36.30 S.I. for one year = Rs. 330. S.I. on Rs. 330 for 1 year = Rs. 36.30 Rate = 100 x 36.30 330 x 1
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