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A sum of money becomes 25/16 times of itself in 40 years at r% of S.I. What is the value of r (approx)?1. 2%2. 3/2%3. 1.5%4. 1.4% |
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Answer» Correct Answer - Option 4 : 1.4% Concept used: R = (I × 100)/(P × T) A = P + I Where R = rate of interest, I = interest, P = principal T = time and A = amount Calculation: 25/16 times that means if P is 16 than A is 25. P = 16, A = 25 I = 25 -16 = 9 r = (9 × 100)/(16 × 40) ⇒ r = 90/64 = 45/32 = 1.4% approx |
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