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Bank X pays a simple interest of $80 on a principal of $1,00

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Bank X pays a simple interest of $80 on a principal of $1,00 [#permalink] New post 13 Apr 2019, 15:40
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Question Stats:

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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
[Reveal] Spoiler: OA

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Re: Bank X pays a simple interest of $80 on a principal of $1,00 [#permalink] New post 13 Apr 2019, 20:16
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Carcass 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



Explanation::

As the principal rates are same in both the banks,

Hence,
the ratio of the interest rates is 80 : 140 = 4 : 7.
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Re: Bank X pays a simple interest of $80 on a principal of $1,00   [#permalink] 13 Apr 2019, 20:16
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