Q14 of 32 Page 46

Amal Roy deposits ₹2000 in the bank and Poshupoti Ghosh deposits ₹2000 in the post office at the same time. After 3 yrs. they get the return amounts ₹2360 and ₹2480 respectively. Let us write by calculating, the ratio of the rate of simple interest in percent per annum in the bank and that of in the post office.

Case 1:


Interest = Amount – Principal


Interest = 2360 – 2000 = Rs. 360


P = Rs. 2000, R = ?, t = 3, I = Rs. 360


As we know,





R = 6


Case 2:


Interest = Amount – Principal


Interest = 2480 – 2000 = Rs. 480


As we know,





r = 8


Hence, the ratio of the rate of simple interest per annum in bank to the post office




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