Simple Interest Practice Test 2

Question : 19 of 40

Marks: +1, -0

The simple interest on Rs 45,000 for 10 years is three-fifths the principal. What is the rate of simple interest in per cent per annum?

Solution:

P = Rs 4,500

SI=3/5×45000=27000

R = R%
T = 10 years

∴R={100×SI}/{P×T}

={100×27000}/{45000×10}=6%

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