NIFT UG 2012 Question Paper with solutions

Question : 135 of 150

Marks: +1, -0

A invested ₹5000 at a certain rate of simple interest and ₹4000 for the same period at 1% higher rate of interest. If the interest in both cases is same, the former rate of interest is

Validate

Solution:

According to the question,

\;\;{5000×r×t}/{100}=\;\;{4000×(r+1)×t}/{100}

5r=4r+4

5r-4r=4

r=4%

Go to Question:

Prev Question

Next Question