Simple Interest Practice Test 1

Question : 11 of 40

Marks: +1, -0

The simple interest of Rs. 800 is Rs. 216. If the rate per cent of the interest per annum is

1 /3

of the number of years, the rate per cent per annum is :

Solution:

Let Rate = R then time in years = 3R;
Now,

{800×R×3R}/100=216

⇒24R^2=216

⇒R^2=9

⇒R=3%

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