NIFT PG 2019 Question Paper with solutions

Question : 7 of 150

Marks: +1, -0

A sum of

₹ 2200

is invested at two different rates of interest. The difference between the interests got after 4 yr is

₹ 202.40 .

What is the difference between the rates of interest?

Solution:

Let the two different rates be

x

and

y,

respectively.

∴ \;{2200 × x × 4}/{100}-\;{2200 × y × 4}/{100}=202.40

( ∵ {SI}=\;{P × R × T}/{100})

⇒ 88 x-88 y=202.40 ⇒ 88(x-y)=202.40

⇒(x-y)=\;{202.40}/{88}=2.3 \%

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