On a certain principal if simple interest for two years is ₹ 1400 and compound interest for two ye

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6.Interest

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On a certain principal if the simple interest for two years is ₹ $1400$ and compound interest for the two years is ₹ $1449,$ what is the rate of interest (In $\%$) ?

A

$7$

B

$3.5$

C

$14$

D

$10.5$

Solution

(a) S.I for 2 years $=₹ 1400$.

$\therefore 1$ year $=₹ 700$

Interest on Interest in $C.I =49 .$

$\therefore \quad R \%=\frac{49}{700} \times 100=7 \%$

Standard 13

Quantitative Aptitude

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