Q30
The compound interest on a certain sum of money at a certain rate for 2 years is Rs. 40.80 and the simple interest on the same sum is Rs. 40 at the same rate and for the same time. The rate of interest is = ?
A.
2% per annum
B.
3% per annum
C.
4% per annum
AnswerD.
5% per annum
Answer: Option C
Solution
Answer: Option C
Solution:
Difference in CI and SI for 2 years