The difference between the simple interest received from two different sources on Rs.1500 for 3 years is Rs.13.50. The difference between their rates of interest is

0.1%
0.2%
0.3%
0.4%

Correct Answer: 0.3%

Explanation:

(1500 x R1 x 3)/100

=> 4500 (R1-R2) = 1350

=> (R1-R2)= 1350/4500 = 0.3 %

More Questions from Simple Interest

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