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# Bank X pays a simple interest of \$80 on a principal of \$1,000 annually

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Math Expert
Joined: 02 Sep 2009
Posts: 58396
Bank X pays a simple interest of \$80 on a principal of \$1,000 annually  [#permalink]

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10 Apr 2019, 00:45
00:00

Difficulty:

5% (low)

Question Stats:

100% (01:06) correct 0% (00:00) wrong based on 34 sessions

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Bank X pays a simple interest of \$80 on a principal of \$1,000 annually. Bank Y pays a simple interest of \$140 on a principal of \$1,000 annually. What is the ratio of the interest rates of Bank X to Bank Y ?

(A) 5 : 8
(B) 8 : 5
(C) 14 : 8
(D) 4 : 7
(E) 5 : 7

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Re: Bank X pays a simple interest of \$80 on a principal of \$1,000 annually  [#permalink]

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10 Apr 2019, 03:13
Bunuel wrote:
Bank X pays a simple interest of \$80 on a principal of \$1,000 annually. Bank Y pays a simple interest of \$140 on a principal of \$1,000 annually. What is the ratio of the interest rates of Bank X to Bank Y ?

(A) 5 : 8
(B) 8 : 5
(C) 14 : 8
(D) 4 : 7
(E) 5 : 7

given X
80=1000*r*1/100
and y ; 140 = 1000*r*1/100
ratio X/Y = 80/140 ; 4/7
IMO D
Re: Bank X pays a simple interest of \$80 on a principal of \$1,000 annually   [#permalink] 10 Apr 2019, 03:13
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