Simple Interest Practice Test 2

Question : 21 of 40

Marks: +1, -0

If simple interest on an amount is equal to 35% of the principal in 5 years, then after how many years will the simple interest be equal to the principal?

8%
8.25%
7.5%
7%
7.25%

Validate

Solution:

Let the principal = Rs P
Then, SI = 35% of P =

35/100P

T = 5 years

∴\Rate={100×SI}/{P×T}

=100×{35P}/100×1/P×1/5=7%

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