Monday, 17 February 2014

Question of the Day No. 38


The Difference between Compound Interest and Simple Interest on a certain sum is Rs. 15 and Simple Interest is 500 Find the Rate of Interest

a) 4%       b) 5%     c) 6%     d) 9%    e) None of these
Answers and Explanations are welcome in comments
The Correct Answer will be Given Tomorrow

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1 comment:

  1. Unknown19 February 2014 at 05:35

    Answer and Explanation of Question No. 38

    Correct Answer is : (C) "6%"
    Explanation :

    Just use the Simple Formula of Difference
    Difference b/w CI & SI = SI/2(r/100)
    15=500/2(r/100)

    r=6%

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