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:
Answer: Option C
S.I. FOR 3 YEARS = RS. (12005 – 9800) = RS. 2205.
S.I. FOR 5 YEARS = RS.[ (2205/3) X 5 ] = RS.3675
PRINCIPLE = RS.(9800-3675) = RS.6125
RATE=12%
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S.I. FOR 3 YEARS = RS. (12005 – 9800) = RS. 2205.
S.I. FOR 5 YEARS = RS.[ (2205/3) X 5 ] = RS.3675
PRINCIPLE = RS.(9800-3675) = RS.6125
RATE=12%
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