The difference between C.I. and S.I. on an amount of Rs. 15,000 for 2 years is Rs. 294. What is the rate of interest per annum?
Pick.
A) 18 B) 12 C) 9 D) 14 E) 16
Explanation:   [15000 * (1 + R/100)2 - 15000] - (15000 * R * 2)/100 = 294   15000[(1 + R/100)2 - 1 - 2R/100] = 294   15000[(100 + R)2 - 10000 - 200R]/10000 = 294   R2 = (294 * 2)/3= 
<gadget id="calculator">(294 * 2)/3</gadget>
<output>196</output>
196=&gt; R = 14   Rate = 14%   Answer: Option 14
<result>D</result>
The difference between C.I. and S.I. on an amount of Rs. 15,000 for 2 years is Rs. 294. What is the rate of interest per annum?