Multiple choice

The difference between the simple interest received from two different banks on Rs. 500 for 2 year is Rs. 2.50. The difference between rate of interest per annum is- दोनों बैंकों के प्रतिवर्ष ब्याज दर बैंकों से मिले 500 पर 2 वर्ष के साधारण ब्याज का अन्तर 2.50 रू. है। प्रतिवर्ष ब्याज दर के बीच अन्तर है-

  1. 0.10%

  2. 2.5%

  3. 0.25%

  4. 1%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For simple interest: SI = P × R × T / 100. For two banks with rates R1 and R2: Difference in SI = 500 × R1 × 2 / 100 - 500 × R2 × 2 / 100 = 10 × (R1 - R2) = 2.50. Therefore, R1 - R2 = 2.50 / 10 = 0.25%. The difference in rates is 0.25%, which matches option C.

Keep practicing — related questions