Time value of money

If the difference between interest received by two persons A and B on the same sum of 1500 for 3 years Rs. 18. Then what is the difference between the two rates of interest

Answers (6)

1500*X/100*3 = 18 X=18/45 = 0.4 Another approach is to assume interest rates as X% and Y% 1500*X%*3-1500*Y%*3=18. From this equation, you can find out X-Y. I also saw that you have not gone through additional practice problems on website. Pls go through that as well.