Latest Exam Aptitude Question SOLUTION: Q3. Simple interest and compound interest for a certain sum of money is Rs 600 and R 648 respectively for two years. What is the rate of interest?

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Q3. Simple interest and compound interest for a certain sum of money is Rs 600 and R 648 respectively for two years. What is the rate of interest?

Asked In Exam Arjun (10 years ago)

Solved sreekanth Read Solution (1)

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Read Solution (1) :

sreekanth  (10 years ago)

16%

simple interest after two years is 600
SI for the first year will be 300

CI for the first year is also 300
for the second year 300+(300+INTREST FOR THE FIRST YEAR INTREST)=648

so here the interest for first year interest is RS 48

for 300 rupees interest is 48 rupees
for 100 rupees it will be 16%

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