Simple Interest Practice Test 1

Question : 35 of 40

Marks: +1, -0

A person invests Rs. 5000 at 5% p.a. simple interest for a certain period and earns Rs. 750. If he earns Rs. 720 on Rs. 6000 in the same time period, what is the rate of interest?

Validate

Solution:

T ={750 ×100}/{5000 ×5 }

= 3 years
Again,

R = {720 ×100}/{6000× 3} = 4%

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