A sum of Rs. 2200 is invested at two different rates of interest. The difference between the interests got after 4 years is Rs. 202.40. What is the difference between the rates of interest ?

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BANK PO Exam (Indian Overseas Bank) 2013 click here to view all questions

A sum of Rs. 2200 is invested at two different rates of interest. The difference between the interests got after 4 years is Rs. 202.40. What is the difference between the rates of interest ?

A3.30%

B2.30%

C3.50%

D2.50%

upendra ? undefined

Correct answer is: 2.30%

Explanation:

If the rate of interest be \(\Large r_{1}\% \text{ and}\ r_{2}\%\) per an num,

then, \(\Large \frac{2200 \times 4 \left(r_{1}-r_{2}\right) }{100}\) = 202.40

\(\Large r_{1}-r_{2}=\frac{202.40 \times 100}{2200 \times 4}\)

= 2.3% per annum

 

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Correct answer is: 2.30% Explanation: If the rate of interest be \(\Large r_{1}\% \text{ and}\ r_{2}\%\) per an num, then, \(\Large \frac{2200 \times 4 \left(r_{1}-r_{2}\right) }{100}\) = 202.40 \(\Large r_{1}-r_{2}=\frac{202.40 \times 100}{2200 \times 4}\) = 2.3% per annum   upendra ? answered undefined All Comments

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