The difference in C.I and S.I for 2 years on a sum of money is Rs.160. If the S.I for 2 years be Rs.2880, the rate percent is :
5%
115%
1119%
19%
Explanation:
S.I for 1 year = Rs.1440
S.I on Rs.1440 for 1 year = Rs.160
Hence, rate percent = (100×1601440×1)(100×1601440×1) = 1119%
S.I for 1 year = Rs.1440
S.I on Rs.1440 for 1 year = Rs.160
Hence, rate percent = (100×1601440×1)(100×1601440×1) = 1119%