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The simple interest on a sum of money for 3 years is Rs. 240 and the compound interest on the same sum, at the same rate for 2 years is Rs. 170. The rate of interest is :
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- 8%
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29 1 % 6 -
12 1 % 2 -
5 5 % 17
Correct Option: C
As per the given in question ,
∵ S.I. for 3 years = Rs. 240
| ∴ S.I. for 2 years = | × 2 = Rs. 160 | |
| 3 |
| ∴ SI = | ||
| 100 |
| ∴ | = 160 | |
| 100 |
⇒ PR = 160 × 50 = 8000...(i)
Again, C.I. – S.I. = 170 – 160 = Rs. 10
| ⇒ Difference = | ||
| 10000 |
| ⇒ | = 10 | |
| 10000 |
| ⇒ | = 10 | |
| 10000 |
| ⇒ R = | = | = 12 | % | |||
| 8 | 2 | 2 |
