Curioustab

Home » Aptitude » Simple Interest

The difference between the interest received from two different bank on Rs. 500 for 2 year is Rs. 2.50. The difference between their rates is?

1%
0.5%
2.5%
0.25%

Correct Answer: 0.25%

Explanation:

Let the rates be R₁% and R₂%.
Then, (500 x R₁ x 2)/ 100 - (500 x R₂ x 2)/ 100 = 2.5
⇒ 10(R₁ - R₂) = 2.5
∴ Req difference = R₁ - R₂ = 0.25%

← Previous Question Next Question→

More Questions from Simple Interest

A certain sum of money at simple interest amounts to Rs. 1012 in 2 1/ 2 years and to Rs. 1067.20 in 4 years. The rate of interest per annum is?
Two equal amounts of money are deposited in two banks, each at 15% per annum for 3 1/ 2 years and 5 years. If the difference between their interests is Rs. 144, each sum is?
If the rate of interest rises from 6 1/2 to 8% a man's annual income increases by Rs. 4050. Find the capital.
The simple interest on a sum of money will be Rs. 600 after 10 years. If the principal is trebled after 5 years the total interest at the end of 10 years will be?
A sum of Rs. 2540 is lent out into two parts. One at 12% and another one at 12 1/ 2 %. If the total annual income is Rs. 311.60, the money lent at 12% is?
A man lends Rs. 10000 in four parts. If he gets 8% on Rs. 2000, 7 1/ 2% on Rs . 4000 and 8 1/ 2% on Rs. 1400, What per cent must he get for the remainder if the average interest is 8.13%?
If the simple interest for 5 yr be equal to 40% of the principle, it will be equal to the principle after?
What sum of money lent out at simple interest will amount to ₹ 3400 in 3 yr at 1% per month?
Simple interest on ₹ 1680 for 4 yr at 7 1/ 2 per annum is equal to the simple interest on ₹ 1200 at 7% per annum for a certain period of time. Time period of time is?
If a certain sum of money becomes double at simple interest in 12 yr. What would be the rate of interest per annum?

Discussion & Comments

No comments yet. Be the first to comment!

Join Discussion