Instructions

Study the following graph to answer these question?

Three different finance companies declare a fixed annual rate of interest on the amounts invested with them by investors. The rate of interest offered by these companies may differ from year to year depending on the variation in the economy of the country and the banks' rate of interest. The annual rate of interest offered by the three Companies P, Q, and R over the years are shown by the line graph provided below.

Question 154

In which year was the difference between the annual rate of interest offered from Companies P and R the minimum?

Solution

In 2008, the difference between the annual rate of interest offered from Companies P and R = 8.5 - 8 =0.5

In 2007, the difference between the annual rate of interest offered from Companies P and R = 9-8 =1

In 2010, the difference between the annual rate of interest offered from Companies P and R = 9-7.5 = 1.5

In 2011, the difference between the annual rate of interest offered from Companies P and R = 8-6.5 = 1.5

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