Question

Scheme M offers simple interest at a certain rate of interest (p.c.p.a). If the difference between the interest earned by Gautam and Rudra from scheme M after 4 yr is Rs. 4436.520, what is the rate of interest (p.c.p.a)?

• A. 17.8
• B. 18
• C. 16.5
• D. 20
• E. 15

Answer 1

The correct option is C 16.5

Difference between percentage amounts of Gautam and Rudra
$=(54-46)=8\%$

Rate $=\frac{4436.52\times 100}{4\times 8\times 840}$

$=\frac{4436.520\times 100}{4\times 6720}=\frac{443652}{26880}=16.5\%$