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A sum of Rs. 2600 is invested at two different rates of interest. The difference between the simple interests got after 4 years is Rs 402.80 at these two rates, what is the difference between the rates of interest?

Correct Answer: 3.87

Explanation:

Let the two different rates of interests be r1 and r2 respectively.


From the given data,


2600   x   4   x   r 1   -   r 2 100     =   402 . 80 r 1   -   r 2   =   402 . 80 104   = 3.87


 


Hence, the difference in the interest rates = 3.87


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