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Question

The compound interest on a certain sum for two years is Rs.618 whereas the simple interest on the same sum at the same rate for two years is Rs. 600. The rate of interest per annum is: 


A
18%
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B
9%
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C
6%
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D
3%
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Solution

The correct option is C 6%
First year SI $$\displaystyle =Rs\frac { 600 }{ 2 } =Rs300$$
$$\displaystyle CI-SI=618-600=Rs18$$
Interest on Rs 300 for 1 year = Rs 18
Interest on Rs 100 for 1 year $$\displaystyle Rs\frac { 18\times 100 }{ 30 } $$
= Rs.6
$$\displaystyle \therefore \quad rate=6$$%

Mathematics

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