A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at

Question

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

Options:

A . 5%

B . 8%

C . 12%

D . 15%

Answer: Option C

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.

S.I. for 5 years = Rs. \(\left(\frac{2205}{3}\times5\right) = Rs.3675.\)

So, Principal = Rs. (9800 - 3675) = Rs. 6125.

Hence , rate = \(\left(\frac{100\times3675}{6125\times5}\right)\) % = 12%

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