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The interest on a certain deposit at 9% per annum is ₹405 in one year. How much additional interest will be earned in one year on the same deposit at 10% per annum?
- ₹40.50
- ₹450
- ₹855
- ₹45
Correct answer: ₹45
Solution
If 9% of the principal is ₹405, then the principal is ₹405 × 100 / 9 = ₹4500. The additional interest at 10% instead of 9% is 1% of ₹4500, which is ₹45.
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