Fewpal
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A certain sum of money amounts to Rs. 756 in 2 yrs and to Rs. 873 in 3.5 yrs. Find the rate of interest. 

(A) 13% 

(B) 15% 

(C) 16% 

(D) 18% 

1 Answer

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Best answer

Correct option (A) 13%   

Explanation:

P + SI for 3.5 yrs = Rs. 873 

P + SI for 2 yrs = Rs 756 

On subtracting, SI for 1.5 yrs = Rs. 117 

Therefore, SI for 2 yrs = (Rs 117/1.5 x 2) = Rs.156

P = 756 – 156 = Rs, 600

and rate =  (100 x 156/600 x 2) = 13%  per annum

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