LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
76 views
in Aptitude by (53.1k points)
closed by
At what rate percent per annum will the simple interest on a sum of money be 2/5 of the principal in 10 years?
1. 4%
2. \(6^\frac{2}{3}\)%
3. 6%
4. \(5^\frac{2}{3}\)%

1 Answer

0 votes
by (54.5k points)
selected by
 
Best answer
Correct Answer - Option 1 : 4%

Given:

S.I.= (2/5) of Principal

Time = 10 years

Formula used:

Amount = P + ( P × R × T)/100

Where P,R and T represents Principal, rate and time respectively.

Calculation:

S.I. = (P × R × T)/100

⇒ (2/5) of P = (P × R × 10)/100

⇒ (2/5) = (R × 10)/100

⇒ (2/5) = (R)/10

⇒ R = 4%

∴ Rate is 4% per annum.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...