Simple Interest Practice Test 1

Question : 37 of 40

Marks: +1, -0

If a certain sum of money at simple interest amounts to Rs. 1900 in 3 years and to Rs. 2050 in5 years, the rate per cent per annum is :

Solution:

Simple interest for 2 years = Rs. 2050 – Rs. 1900 = Rs. 150
∴ Simple interest for 1 year = Rs.

150/2

= Rs. 75
Since simple interest for 3 years = Rs. 75 × 3 = Rs. 225
∴ Principal = Rs. 1900 – Rs. 225 = Rs. 1675
Hence, Rate

={75×100}/{1675×1}=4 1/2%

Go to Question:

Prev Question

Next Question