Simple Interest Practice Test 2

Question : 1 of 40

Marks: +1, -0

A invested Rs. 5000 at a certain rate of simple interest and Rs. 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:

Here,

{5000×R×T}/100={4000×(R+1)×T}/100

⇒ 5R = 4R + 4
∴ R = 4%

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