Question
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 = ?
Answer: Option C
$$\eqalign{
& {\text{CI for 2 years}}\,{\text{ = Rs. 282}}{\text{.15}} \cr
& {\text{SI for 2 year}}\,{\text{ = Rs. 270}} \cr
& {\text{SI for 1 year = }}\frac{{270}}{2} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs.}}\,135 \cr
& {\text{Difference between CI and SI}} \cr
& {\text{ = }}\left( {282.15 - 270} \right) \cr
& {\text{ = Rs. 12}}{\text{.15}} \cr
& {\text{Required rate % }} \cr
& {\text{ = }}\frac{{12.15}}{{135}} \times 100 = 9\% \cr} $$
Note : Always remainder for first year CI and SI will be same.
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$$\eqalign{
& {\text{CI for 2 years}}\,{\text{ = Rs. 282}}{\text{.15}} \cr
& {\text{SI for 2 year}}\,{\text{ = Rs. 270}} \cr
& {\text{SI for 1 year = }}\frac{{270}}{2} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs.}}\,135 \cr
& {\text{Difference between CI and SI}} \cr
& {\text{ = }}\left( {282.15 - 270} \right) \cr
& {\text{ = Rs. 12}}{\text{.15}} \cr
& {\text{Required rate % }} \cr
& {\text{ = }}\frac{{12.15}}{{135}} \times 100 = 9\% \cr} $$
Note : Always remainder for first year CI and SI will be same.
Was this answer helpful ?
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