Join Sarthaks eConnect Today - Largest Online Education Community!
0 votes
10 views
in Simple Interest by (51.9k points)
closed by

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%

1 Answer

+1 vote
by (24.5k points)
selected by
 
Best 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%

Related questions

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

...