At simple interest a sum becomes (6/5) of itself in 2½ years. The rat – InterviewSolution

InterviewSolution

1.

At simple interest a sum becomes (6/5) of itself in 2½ years. The rate of interest per annum is(a) 6% (b) 7½% (c) 8% (d) 9%

Answer»

(c) 8%

Because,

Let the required sum be ₹ x

Rate of interest = r %

Time = 2½ years = 5/2 years

Amount = (6/5) × sum

Amount = principal + SI

(6/5) × x = x + [(P × R × T)/100]

= (6/5) x = x + [(x × r × 5)/ (100 × 2)]

= (6/5) = (1 + (r/40))

= r = (40 × (1/5))

= r = 8%

Discussion

No Comment Found

Related InterviewSolutions

Find the rate when principal = ₹ 8250, SI = ₹ 1100 and time = 2 years.
Find the rate when principal = ₹ 3560, amount = ₹ 4521.20 and time = 3 years.
Nalini borrowed Rs 550 from her friend at 8% per annum. She returned the amount after 6 months. How much did she pay?
Shanta borrowed ₹ 6000 from the State Bank of India for 3 years 8 months at 12% per annum. What amount will clear off her debt?
A man borrowed Rs 8000 from a bank at 8% per annum. Find the amount he has to pay after 4 ½ years.
Find the simple interest and the amount when principal = ₹ 2650, rate = 8% p.a. and time = 2 ½ years.
Find the simple interest and the amount when principal = ₹ 9600, rate = 7 ½ % p.a. and time = 5 months.
At simple interest a sum becomes (6/5) of itself in 2½ years. The rate of interest per annum is(a) 6% (b) 7½% (c) 8% (d) 9%
At what rate percent per annum simple interest will a sum double itself in 10 years?(a) 8% (b) 10% (c) 12% (d) 12 ½ %
A owes B Rs 1573 payable \(1\frac12\) years hence. Also B owes A Rs 1444.50 payable 6 months hence. If they want to settle the account forth with, keeping 14 % as the rate of interest, then who should pay whom and how much ? (a) A to B, Rs 28.50 (b) B to A, Rs 37.50 (c) A to B, Rs 50 (d) B to A, Rs 50