Simple Interest Practice Test 2

Question : 28 of 40

Marks: +1, -0

The amount of Re. 1 in 5 years at a certain rate of simple interest is Rs. 1.25. What should be the amount of Rs. 600 in two years?

Solution:

I = 1.25 – 1 = 0.25
Then,

R = {0.25 ×100}/{1 ×5}=5%

Again,

I = {600× 5 ×2}/100

= Rs. 60
Hence, amount = 600 + 60 = Rs. 660

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