Simple Interest Practice Test 3

Question : 37 of 40

Marks: +1, -0

A sum of money becomes

7/6

of itself in 3 years at a certain rate of simple interest. What is the rate p.a.?

Solution:

Let principal = Rs. x; then amount

= \Rs. 7/6x

;
Since,

I=7/6x-x=x/6

R={x×100}/{6×x×3}=50/9=5 5/9%

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