Mathematics for FinanceMTP Jun 23Question 1380 of 479
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The difference between compound interest and simple interest on an amount of 15,000\displaystyle 15,000 for 2\displaystyle 2 years is 96\displaystyle 96. What is the rate of interest per annum?

Options

A9%\displaystyle 9\%
B8%\displaystyle 8\%
C11%\displaystyle 11\%
D10%\displaystyle 10\%
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Correct Answer

Option b8%\displaystyle 8\%

All Options:

  • A9%\displaystyle 9\%
  • B8%\displaystyle 8\%
  • C11%\displaystyle 11\%
  • D10%\displaystyle 10\%

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