Question 13
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The difference between compound interest and simple interest on an amount of ₹ 15,000 for 2 years is ₹ 96. What is the rate of interest per annum.
- A 8 Correct
- B 10
- C 12
- D Cannot be determined
- E None of these
Correct Answer: Option A
 |
15000 x |  |
1 + | R |  |
2 | - 15000 | ![]](/assets/images/aptitude/common/1-sym-cbracket-h2.gif) |
- | |
15000 x R x 2 | |
||
| 100 | 100 |
= 96
| ⇒ 15000 | |
|
1 + | R | |
2 | - 1 - | 2R | |
= 96 |
| 100 | 100 |
| ⇒ 15000 |  |
(100 + R)2 - 10000 - (200 x R) | ![]](/assets/images/aptitude/common/1-sym-cbracket-h1.gif) |
= 96 |
| 10000 |
| ⇒ R2 = | |
96 x 2 | |
= 64 |
| 3 |
⇒ R = 8.
∴ Rate = 8%.
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