SNAP 2017 Interest — Previous Year Question
Paper
SNAP 2017
Section
Quantitative
Topic
Interest
Difficulty
Medium
Question
SNAP 2017
A Bank lent a certain sum of money at a certain rate of simple interest for 2 years to David. He lent this sum at the same rate of interest but compounded annually for the same period to Pankaj, who has a bad credit history. At the end of two years, the CI received was ₹2400 while the SI received was only ₹2000. Find the rate of interest.
20%
10%
30%
None of the mentioned options are correct
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