The difference between the simple interest received from two different...
Given, Principal amount (P) = Rs 1500, Time (T) = 3 years, and Difference in Simple interest (S.I) = Rs 13.50.
Let the rate of interest of the first source be r1% and that of the second source be r2%.
According to the simple interest formula,
Simple Interest = (P x T x R) / 100, where R is the rate of interest.
Therefore, the simple interest received from the first source is (1500 x 3 x r1) / 100 = 45r1 and that from the second source is (1500 x 3 x r2) / 100 = 45r2.
Given, the difference between the simple interest received from two different sources on Rs 1500 for 3 years is Rs 13.50.
Therefore, 45r1 - 45r2 = 13.50.
Simplifying the above equation, we get 3r1 - 3r2 = 0.9.
Thus, the difference between their rates of interest is (r1 - r2) = 0.3%.
Hence, the correct answer is option C, 0.3%.