New 55% Off on All Courses - Enroll Now! Click Here

    Question

    The simple interest on a sum of money is 8/25 of the

    sum. If the rate of interest per annum is two times of the number of years in numerically. Find the rate of interest.
    A 4.5% Correct Answer Incorrect Answer
    B 4% Correct Answer Incorrect Answer
    C 2% Correct Answer Incorrect Answer
    D 3.5% Correct Answer Incorrect Answer

    Solution

    ATQ, Let assume that Simple interest = 8x Principal = 25x Rate of interest = 2R Number of years = R Simple interest = Principal × Rate of interest × Number of years/100 8x = 25x × 2R × R/100 16 = R2 R = 4%

    Practice Next