Simple Interest Practice Test 4

Question : 10 of 26

Marks: +1, -0

Arun invested a sum of money at a certain rate of simple interest for a period of four years. Had he invested the same sum for a period of six years, the total interest earned by him would have been 50% more than the earlier interest amount. What was the rate of interest per cent per annum?

4
8
5
Cannot be determined
None of these

Validate

Solution:

Let the sum of money = P
Rate of interest = R
Time = 4 years,

SI={4PR}/100

If he invested the same amount for six years.
SI + (50% of SI) =

{6PR}/100

Rate of interest cannot be determined because The sum of money and simple interest are not given.

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