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 interests is
(a) 0.1%
(b) 0.2%
(c) 0.3%
(d) 0.4%
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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 interests is
(a) 0.1%
(b) 0.2%
(c) 0.3%
(d) 0.4%
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 interests is
(a) 0.1%
(b) 0.2%
(c) 0.3%
(d) 0.4%
(c) 0.3%
Let the two rates of simple interests p.a. be x % and y %.
Then, \(\frac{1500\times{x}\times3}{100}-\frac{1500\times{y}\times3}{100}=13.50\)
⇒ 45x – 45y = 13.50 ⇒ 45(x-y) = 13.50
⇒ x-y = \(\frac{13.50}{45}\) = 0.3%