| A sum of Rs. 2200 is invested at two different rates of interest. The difference between the interests got after 4 yr is Rs. 202.40. What is the difference between the rates of interest per annum? [IOB (PO) 2013] |
A) 3.3%
B) 2.3%
C) 3.5%
D) 2.5%
E) None of these
Correct Answer: B
Solution :
| Let the rates of interest be \[{{r}_{1}}%\] and \[{{r}_{2}}%\]per annum then |
| \[\frac{2200\times 4\,({{r}_{1}}-{{r}_{2}})}{100}=202.40\] |
| \[\Rightarrow \] \[{{r}_{1}}-{{r}_{2}}=\frac{202.40\times 100}{2200\times 4}\] |
| = 2.3% per annum |
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