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The difference between simple interest received from two different sources for Rs.13,000 for 2 years is Rs. 65. Then the difference between their rates of interest?
- a)0.75
- b)0.60
- c)0.25
- d)0.50
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
The difference between simple interest received from two different sou...
As per the given data
Let their simple interest be I1 and I2
Let their rate of interest be R1 and R2
⇒ I1 – I2 = (PTR1/100 – PTR2/100)
⇒ I1 – I2 = (R1 - R2) (PT/100)
⇒ 65 = (R1 - R2) (13000 × 2/100)
⇒ R1 - R2 = ¼ = 0.25
Let their simple interest be I1 and I2
Let their rate of interest be R1 and R2
⇒ I1 – I2 = (PTR1/100 – PTR2/100)
⇒ I1 – I2 = (R1 - R2) (PT/100)
⇒ 65 = (R1 - R2) (13000 × 2/100)
⇒ R1 - R2 = ¼ = 0.25
Most Upvoted Answer
The difference between simple interest received from two different sou...
Understanding Simple Interest
Simple interest can be calculated using the formula:
Simple Interest (SI) = Principal (P) × Rate (R) × Time (T) / 100
In this scenario, we have two different sources of interest on Rs. 13,000 for 2 years.
Given Data
- Principal (P) = Rs. 13,000
- Time (T) = 2 years
- Difference in Simple Interest = Rs. 65
Calculating Simple Interest
Let the rates of interest for the two sources be R1 and R2.
- Simple Interest for source 1:
SI1 = (13000 × R1 × 2) / 100
- Simple Interest for source 2:
SI2 = (13000 × R2 × 2) / 100
Finding the Difference
The difference in simple interest can be expressed as:
SI1 - SI2 = Rs. 65
Substituting the values:
(13000 × R1 × 2) / 100 - (13000 × R2 × 2) / 100 = 65
This simplifies to:
260R1 - 260R2 = 65
Further simplifying gives:
260(R1 - R2) = 65
Calculating the Difference in Rates
Now, divide both sides by 260:
R1 - R2 = 65 / 260
R1 - R2 = 0.25
Conclusion
Thus, the difference between the rates of interest for the two sources is Rs. 0.25. Therefore, the correct answer is option 'C'.
Simple interest can be calculated using the formula:
Simple Interest (SI) = Principal (P) × Rate (R) × Time (T) / 100
In this scenario, we have two different sources of interest on Rs. 13,000 for 2 years.
Given Data
- Principal (P) = Rs. 13,000
- Time (T) = 2 years
- Difference in Simple Interest = Rs. 65
Calculating Simple Interest
Let the rates of interest for the two sources be R1 and R2.
- Simple Interest for source 1:
SI1 = (13000 × R1 × 2) / 100
- Simple Interest for source 2:
SI2 = (13000 × R2 × 2) / 100
Finding the Difference
The difference in simple interest can be expressed as:
SI1 - SI2 = Rs. 65
Substituting the values:
(13000 × R1 × 2) / 100 - (13000 × R2 × 2) / 100 = 65
This simplifies to:
260R1 - 260R2 = 65
Further simplifying gives:
260(R1 - R2) = 65
Calculating the Difference in Rates
Now, divide both sides by 260:
R1 - R2 = 65 / 260
R1 - R2 = 0.25
Conclusion
Thus, the difference between the rates of interest for the two sources is Rs. 0.25. Therefore, the correct answer is option 'C'.
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The difference between simple interest received from two different sources for Rs.13,000 for 2 years is Rs. 65. Then the difference between their rates of interest?a)0.75b)0.60c)0.25d)0.50Correct answer is option 'C'. Can you explain this answer?
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