InterviewSolution
Saved Bookmarks
| 1. |
If the total simple interest on a sum of Rs. 1,400 for 4 years at rate of interest x% p.a. and on the same sum for two years at the same rate, is Rs. 672, then the value of x is:1. 6%2. 10%3. 9%4. 8% |
|
Answer» Correct Answer - Option 4 : 8% Given: simple interest= Rs.1,400 time = 4 years Formula Used: SI = P × T × R /100 Calculation: Let the Rate = x We know that, SI = P × T × R /100 ⇒ 672 = 1400 × 4 × x /100 + 1400 × 2 × x /100 ⇒ 672 = 56x + 28x ⇒ 672 = 84x ⇒ x = 672/84 ⇒ x = 8 ∴ Rate = 8% |
|