Simple Interest Practice Test 4

Question : 18 of 26

Marks: +1, -0

A sum of money amounts to Rs. 1150 in 3 years and to Rs. 1250 in 5 years at a certain rate per cent p.a. simple interest. The rate per cent p.a. will be :

Validate

Solution:

Here, Simple interest for 2 years = Rs. 1250 – Rs. 1150 = Rs. 100
∴ Simple interest for 3 years

= {100 ×3}/2

= Rs. 150
Hence, P = Rs. 1150 – Rs. 150 = Rs. 1000
∴ Rate

= {50× 100}/{1000 ×1} = 5%

Go to Question:

Prev Question

Next Question