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Simple interest of Rs.10000 for 15 years at 15% PA is equal to simple interest of Rs.15000 at xx% PA in 10 years. Find the value of xx.

Solution

Correct Option: 3

SI1=10000×15×15100=22500_1=\frac{10000\times15\times15}{100}=22500. SI2=15000×x×10100=1500x_2=\frac{15000\times x\times10}{100}=1500x. Setting them equal: 1500x=225001500x=22500, so x=15x=15.

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