The interest on a certain deposit at 4.5% p.a. is ₹135 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a.?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹15.
SI = (P × R × T)/100
⇒ 135 = (P × 4.5 × 1)/100
⇒ P = 13500/4.5 = 3000
Also, SI = (3000 × 5 × 1)/100 = 15000/100 = 150
Additional interest = 150 - 135 = 15
Therefore, the additional interest in one year on the same deposit will be ₹15.