Simple interest for the sum of ₹ 1230 for 2 yr is ₹ 10 more than the simple interest for ₹ 1130 for the same duration. Find the rate of interest. `

5%
6%
8%
2%

Correct Answer: 5%

Explanation:

According to the question,
[(1230 x 2 x R)/100] - [(1130 x 2 x R)/100] = 10
⇒ (200 x R)/100 = 10
∴ R = 5%

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