Quant Exam  >  Quant Questions  >  The difference between interest received by V... Start Learning for Free
The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?
  • a)
    1.5%
  • b)
    2%
  • c)
    3%
  • d)
    2.7%
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
The difference between interest received by Vivek and Vimal is Rs.405 ...
4500*3/100(R1-R2) = 405
R1-R2 = 405*100/13500 = 3%
View all questions of this test
Most Upvoted Answer
The difference between interest received by Vivek and Vimal is Rs.405 ...
4500*3/100(R1-R2) = 405
R1-R2 = 405*100/13500 = 3%
Free Test
Community Answer
The difference between interest received by Vivek and Vimal is Rs.405 ...
Problem Analysis:
Let's assume the rate of interest received by Vivek is r1% and the rate of interest received by Vimal is r2%. We are given that the difference in interest received by Vivek and Vimal is Rs. 405 on Rs. 4500 for 3 years.

Solution:
To find the difference in the rate of interest, we need to calculate the interest received by Vivek and Vimal individually using the given information and then find the difference between the two rates.

Calculating the Interest Received:
We know that the formula to calculate simple interest is:
Simple Interest = (Principal * Rate * Time) / 100

Vivek's Interest:
Principal = Rs. 4500
Rate = r1%
Time = 3 years

Vivek's Interest = (4500 * r1 * 3) / 100 = 135r1

Vimal's Interest:
Principal = Rs. 4500
Rate = r2%
Time = 3 years

Vimal's Interest = (4500 * r2 * 3) / 100 = 135r2

Calculating the Difference:
The difference in interest received by Vivek and Vimal is given as Rs. 405.

135r1 - 135r2 = 405

Dividing both sides of the equation by 135:

r1 - r2 = 3

So, the difference in the rate of interest is 3%.

Conclusion:
The difference in the rate of interest received by Vivek and Vimal is 3%. Therefore, the correct answer is option C) 3%.
Explore Courses for Quant exam
Question Description
The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
Solutions for The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant. Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for 3 years. What is the difference in rate of interest ?a)1.5%b)2%c)3%d)2.7%e)None of theseCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Quant tests.
Explore Courses for Quant exam

Top Courses for Quant

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev