If the ratio of difference between CI and SI for 3 years and 2 years is 31 10 then find the Rate of ...........

Quantitative Aptitude ( CCS) Compound Interest

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If the ratio of difference between CI and SI for 3 years and 2 years is 31:10, then find the Rate of Interest.

11.11%

10%

20%

25%

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Explanation:

Sum= A
Interest= B
A——–A———A
———-B———B
———————B
———————C
CI for 3 years=3A+3B+C
SI for 3 years =3A
Diff= 3B+cCI for 2 years=2A+B
SI for 2 years=2A
diff=B
ratio=(3B+C)/B=31/10
B=10; C=1
Rate=C/B=1/10=10%