On a certain sum of money the compound interest for 2 years is Rs.282.15 and the

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On a certain sum of money the compound interest for 2 years is Rs.282.15 and the simple interest for the same period of time is Rs.270. The rate of interest per annum is

Options:

A . 12.15%

B . 6.07%

C . 9%

D . 10%

Answer: Option C
Answer: (c)Using Rule 10,If SI on a certain sum for two years is x and CI is y, then$y = x(r + /200)$$282.15 = 270(1 + r/100)$$1 + r/200 = 282.15/270$$r/200 = 282.15/270$ - 1$r/200 = {12.15}/270$r = ${12.15 × 200}/270 = 9%$

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