1.

A sum of money amounts to Rs 9800 after 5 years and Rs 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is

Answer»

12%



We can get SI of 3 years = 12005 - 9800 = 2205

SI for 5 years = (2205/3)*5 = 3675 [so that we can get principal amount after DEDUCTING SI]

Principal = 12005 - 3675 = 6125 

So, RATE = (100*3675)/(6125*5) = 12%



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