Question

    A certain sum gives the interest equals to 3/5th of the sum when invested for 5 years at simple interest. Find the rate of simple interest.

    A 15% Correct Answer Incorrect Answer
    B 10% Correct Answer Incorrect Answer
    C 12% Correct Answer Incorrect Answer
    D 20% Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. x and the rate of the interest be r% p.a. According to the question, (x × 5 × r)/100 = 3x/5 Or, r = 12%

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