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Solve the following question and mark the best possible option.
The difference between the simple interest received from two different sources on Rs. 3 lakhs for 2 years is Rs. 1,500. The difference between their rates of interest is
  • a)
    0.20%
  • b)
    0.3%
  • c)
    0.25%
  • d)
    0.4%
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Solve the following question and mark the best possible option.The dif...
Let x and y be the interest rates.
x% of 3 lakhs – y% of 3 lakhs = 1500
(x– y) % of 3 lakhs = 1500
300000(x – y)/100 = 1500
(x – y) = 0.5% for 2 years
⇒  For 1 year = 0.25%
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Solve the following question and mark the best possible option.The difference between the simple interest received from two different sources on Rs. 3 lakhs for 2 years is Rs. 1,500. The difference between their rates of interest isa)0.20%b)0.3%c)0.25%d)0.4%Correct answer is option 'C'. Can you explain this answer?
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