Percentage Practice Test 1 with solutions

Question : 19 of 40

Marks: +1, -0

Puneeta borrowed from Reena for two years at a certain sum at simple interest. Puneeta lent this sum to Venu at the same rate for two years in simple interest. Puneeta lent this sum to Venu at the same rate for two years compound interest. At the end of two years she received Rs 110 as compound interest but paid Rs 100 as simple interest. Find the sum and rate of interest.

Rs 250, rate 10% per annum
Rs 250, rate 20% per annum
Rs 250, rate 25% per annum
None of these

Validate

Solution:

Difference between the compound interest and simple interest is 110 - 100 = Rs 10

\Sum={(\Difference)×100×100}/r^2

P={10×100×100}/r^2

r=100√{10/P}

Simple interest

={P×R×T}/100

100={P×100√{10/P}×2}/100

P = 250
Principal = Rs 250
Simple interest

={P×R×T}/100

100={250×2×r}/100

r = 20%

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