1.  On a sum of money, the simple interest for 2 years is ₹ 660, while the compound interest is ₹ 696.30, the rate of interest being the same in both the cause. The rate of interest is:
A. 10%
B. 10.5%
C. 12%
D. None of these

Answer: Option D

Explanation:

Difference in C.I. and S.I. for 2 years

= ₹ (696.30 - 660)

= ₹ 36.30

S.I. on ₹ 330 for 1 year = ₹ 36.30.

∴ Rate 100 x 36.30
330 x 1

= 11%