The simple interest on a sum of money for 3 y | vedclass

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(C) Simple Interest $(S.I.)$ for $3$ years $= ₹ 240$.Therefore,$S.I.$ for $1$ year $= 240 / 3 = ₹ 80$.For the same principal and rate,the $S.I.$ for t

Vedclass · Accepted Answer

$12.5$

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(C) Simple Interest $(S.I.)$ for $3$ years $= ₹ 240$.Therefore,$S.I.$ for $1$ year $= 240 / 3 = ₹ 80$.For the same principal and rate,the $S.I.$ for the first year is equal to the Compound Interest $(C.I.)$ for the first year.Given,$C.I.$ for $2$ years $= ₹ 170$.Therefore,$C.I.$ for the second year $= (C.I. 	ext{ for } 2 	ext{ years}) - (C.I. 	ext{ for } 1 	ext{ year}) = 170 - 80 = ₹ 90$.The difference between the second year's $C.I.$ and the first year's $S.I.$ is the interest earned on the first year's interest.Difference $= 90 - 80 = ₹ 10$.Rate of interest $= (	ext{Difference} / S.I. 	ext{ for } 1 	ext{ year}) 	imes 100$.Rate $= (10 / 80) 	imes 100 = 12.5 \%$.

The simple interest on a sum of money for $3$ years is ₹ $240$ and the compound interest on the same sum,at the same rate for $2$ years is ₹ $170$. The rate of interest is (in $\%$):

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