Answer :

Case 1:

Interest = Amount – Principal

⇒ Interest = 2360 – 2000 = Rs. 360

P = Rs. 2000, R = ?, t = 3, I = Rs. 360

As we know,

⇒ R = 6

Case 2:

Interest = Amount – Principal

⇒ Interest = 2480 – 2000 = Rs. 480

As we know,

⇒ r = 8

Hence, the ratio of the rate of simple interest per annum in bank to the post office

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