Correct Answer - Option 3 : 15%
Given:
Difference C.I and S.I for 2 years = Rs. 22.50
Time = 2 years
Principal = Rs. 1000
Formula used:
Difference C.I and S.I for 2 years = (principal × r2)/10000
Calculation:
22.50 = (1000 × r2)/10000
⇒ r2 = 225
⇒ r2 = 152
⇒ r = 15
∴ The rate of interest per annum is 15%.