IBPS SO Prelims Exam Model Paper 4

As simple interest is same for every year so,
Simple interest for 1 year =

240

3

= Rs. 80
⇒ P × R = 8000
Simple interest for 2 year = 80 x 2 = Rs. 160
Difference between C.I and S.I for 2 years = 170 - 160 = Rs. 10
By using formula, Difference =

PR2

1002

So, 10 = (P × R) ×

R

100

× 100
⇒ R = 10 × 100 ×

100

8000

∴ Rate% =

10

80

x 100 = 12.5%