Difference between compound and simple interest at a certain rate on Rs. 2000 at end of two years is

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6.Interest

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The difference between compound and simple interest at a certain rate on $Rs. 2000$ at the end of two years is Rs. $12.8 .$ The rate of interest (In $\%$) per annum is

A

$6.8$

B

$8$

C

$12.8$

D

$16.8$

Solution

Difference between CI and SI for 2 years $=\frac{P R^{2}}{100^{2}}$

$12.8=\frac{2000 \times R^{2}}{(100)^{2}} \Rightarrow R=8 \%$ per annum

Standard 13

Quantitative Aptitude

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