Multiple Choice Questions on If the compound interest on a certain sum for 2 years is Rs 60 60 and the simple interest is Rs 60 t........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

If the compound interest on a certain sum for 2 years is Rs 60 60 and the simple interest is Rs 60 t...........

Quantitative Aptitude ( CCS) Compound Interest
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    If the compound interest on a certain sum for 2 years is Rs. 60.60 and the simple interest is Rs. 60. then the rate of interest per annum is

    2%

    Correct Answer

    3%

    Incorrect Answer

    4%

    Incorrect Answer

    None of these

    Incorrect Answer
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    Explanation:

    We have, 

    CI - SI = R x SI / 200

    = 60.60 - 60 = R x 60 / 200

    = R = 0.60 x 200 / 60 = 2%

    Hence, option 1 is the correct answer.

    By: Amit Kumar
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