UGC NET Paper 1 GA 5 Jan 2022 Shift 1 Paper

Question : 15 of 50

Marks: +1, -0

What is the rate of simple interest in a bank if the principal amount of Rs. 5,000.00 becomes Rs. 10,000.00 in 8 years?

Solution:

Concept used:

{SI}= {P} × {R} × {T} \/ 100

Interest

=

Amount

-

Principal
Calculation:
Interest

=

Rs.

10000-5000=

Rs. 5000
Now,

5000=5000 × {R} × 8 \/ 100

{R}=12.5 \%

Hence, the correct answer is

12.5 \%

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