Question

    A sum lent out at simple interest amounts to 6076 in 1 year and 7504 in 4 years. The sum and the rate of interest p.a. are respectively

    A 5600rs ,8.5% Correct Answer Incorrect Answer
    B 5800rs ,8% Correct Answer Incorrect Answer
    C 6200rs, 6% Correct Answer Incorrect Answer
    D 5400rs ,7.5% Correct Answer Incorrect Answer

    Solution

    year                      Amount 1year                    6076......(1) 4year                    7504......(2) for interest difference between eq (1) and (2) 3             = 1428 1             =476 to equation (1) ... SI=476 A=6074 P=6074-476=5600 P=5600rs then R = (476×100)5600×1 =47600/5600 =476/56=119/14 =8.5%

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