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    Question

    The interest earned by Veer at SI is 24% of the sum

    invested. If he had invested for 4 years more, then interest received is 150% more than that of earlier. What is the rate of interest?
    A 9% Correct Answer Incorrect Answer
    B 7.5% Correct Answer Incorrect Answer
    C 8% Correct Answer Incorrect Answer
    D 10% Correct Answer Incorrect Answer
    E 12.5% Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. 100x. Simple interest received in later case = 24 × 2.5 = 60% Let 24% interest is received when he invested for ‘y’ years. => y = 24% => y + 4 = 60% => 4 years → 36% Required rate of interest = 9% per annum

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