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Simple Interest for the sum of Rs.1230 for two year is Rs.10 more than the SI for Rs.1130 for the same duration. Find the Rate of Interest?
  • a)
    5%
  • b)
    8%
  • c)
    4%
  • d)
    2%
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Simple Interest for the sum of Rs.1230 for two year is Rs.10 more than...
A. 5%
Explanation: (1230*2*R)/100 – (1130*2*R)/100 = 10
R=5%
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Most Upvoted Answer
Simple Interest for the sum of Rs.1230 for two year is Rs.10 more than...
Given:
Principal amount (P1) = Rs. 1230
Principal amount (P2) = Rs. 1130
Time (t) = 2 years

Let's assume the rate of interest (R) as the unknown variable.

Simple Interest (SI) formula: SI = (P * R * t) / 100

According to the given information, the SI for Rs. 1230 is Rs. 10 more than the SI for Rs. 1130.

Mathematically, we can represent this as:
SI1 = SI2 + 10

Now, let's calculate the SI for both amounts and equate them.

SI1 = (P1 * R * t) / 100
SI2 = (P2 * R * t) / 100

Substituting the given values:
SI1 = (1230 * R * 2) / 100
SI2 = (1130 * R * 2) / 100

According to the given condition, SI1 = SI2 + 10

(1230 * R * 2) / 100 = (1130 * R * 2) / 100 + 10

Simplifying the equation:
(1230 * R * 2) = (1130 * R * 2) + 1000
2460R = 2260R + 1000
200R = 1000
R = 1000 / 200
R = 5

Therefore, the rate of interest (R) is 5%.

Hence, the correct answer is option 'A'.
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Community Answer
Simple Interest for the sum of Rs.1230 for two year is Rs.10 more than...
A. 5%
Explanation: (1230*2*R)/100 – (1130*2*R)/100 = 10
R=5%
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Simple Interest for the sum of Rs.1230 for two year is Rs.10 more than the SI for Rs.1130 for the same duration. Find the Rate of Interest?a)5%b)8%c)4%d)2%Correct answer is option 'A'. Can you explain this answer?
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