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The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :
- a)0.1%
- b)0.2%
- c)0.3%
- d)0.4%
Correct answer is option 'C'. Can you explain this answer?
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Given:
- Principal amount (P) = Rs. 1500
- Time period (t) = 3 years
- Difference in simple interest (SI) = Rs. 13.50
To find:
- Difference in rates of interest
Solution:
The formula for calculating simple interest is:
SI = (P * R * t) / 100
Where:
SI = Simple Interest
P = Principal amount
R = Rate of interest
t = Time period
We are given the following information:
1. The difference in simple interest is Rs. 13.50.
2. The principal amount is Rs. 1500.
3. The time period is 3 years.
Finding the rate of interest for the first source:
Let the rate of interest for the first source be R1.
Using the formula for simple interest, we can write the equation as:
SI1 = (P * R1 * t) / 100
Finding the rate of interest for the second source:
Let the rate of interest for the second source be R2.
Using the formula for simple interest, we can write the equation as:
SI2 = (P * R2 * t) / 100
Calculating the difference in simple interest:
From the given information, the difference in simple interest is Rs. 13.50.
Therefore, we can write the equation as:
SI1 - SI2 = Rs. 13.50
Substituting the values:
Substituting the values of P = Rs. 1500 and t = 3 years in the above equations, we get:
(1500 * R1 * 3) / 100 - (1500 * R2 * 3) / 100 = Rs. 13.50
Simplifying the equation, we get:
45R1 - 45R2 = 13.50
45(R1 - R2) = 13.50
Finding the difference in rates of interest:
Dividing both sides of the equation by 45, we get:
R1 - R2 = 13.50 / 45
R1 - R2 = 0.30
Therefore, the difference in rates of interest is 0.30 or 0.3%.
Hence, the correct answer is option C) 0.3%.
- Principal amount (P) = Rs. 1500
- Time period (t) = 3 years
- Difference in simple interest (SI) = Rs. 13.50
To find:
- Difference in rates of interest
Solution:
The formula for calculating simple interest is:
SI = (P * R * t) / 100
Where:
SI = Simple Interest
P = Principal amount
R = Rate of interest
t = Time period
We are given the following information:
1. The difference in simple interest is Rs. 13.50.
2. The principal amount is Rs. 1500.
3. The time period is 3 years.
Finding the rate of interest for the first source:
Let the rate of interest for the first source be R1.
Using the formula for simple interest, we can write the equation as:
SI1 = (P * R1 * t) / 100
Finding the rate of interest for the second source:
Let the rate of interest for the second source be R2.
Using the formula for simple interest, we can write the equation as:
SI2 = (P * R2 * t) / 100
Calculating the difference in simple interest:
From the given information, the difference in simple interest is Rs. 13.50.
Therefore, we can write the equation as:
SI1 - SI2 = Rs. 13.50
Substituting the values:
Substituting the values of P = Rs. 1500 and t = 3 years in the above equations, we get:
(1500 * R1 * 3) / 100 - (1500 * R2 * 3) / 100 = Rs. 13.50
Simplifying the equation, we get:
45R1 - 45R2 = 13.50
45(R1 - R2) = 13.50
Finding the difference in rates of interest:
Dividing both sides of the equation by 45, we get:
R1 - R2 = 13.50 / 45
R1 - R2 = 0.30
Therefore, the difference in rates of interest is 0.30 or 0.3%.
Hence, the correct answer is option C) 0.3%.
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The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer?
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The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer?.
The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer?.
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The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer?, a detailed solution for The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is :a)0.1%b)0.2%c)0.3%d)0.4%Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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