Q161
ArithmeticSimple & Compound Interest
The difference between the interest receive from two different bank on ₹ 500 for 2 years is ₹ 2·5. Find the difference between their rate of interest.
- a.25%
- b.20%
- c.15%
- d.10%
No option is correct as printed — this question is disputed. WBPSC awarded the mark to all candidates: no correct option — the rate difference works out to 0·25%, not 25%.
With simple interest, 500 × 2 × d ÷ 100 = 2·5 gives a rate difference of d = 0·25%. None of the options shows 0·25%; option A's 25% appears to be that figure with the decimal point lost. The Commission therefore awarded the mark to all candidates.