Question
A certain sum of money a simple interest amounts to Rs. 1012 in `2 1/2` years and to Rs. 1067.20 in 4 years. The rate of interest per annum is :
Answer: Option C
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S.I. for `1 1/2` years = Rs. (1067.20 - 1012) = Rs. 55.20
S.I. for `2 1/2` years = Rs. `(55.20 xx 2/3 xx 5/2)` = Rs. 92
`:.` principal = Rs. (1012 - 92) = Rs. 920
Hence , rate = `((100 xx 92 xx 2)/(920 xx 5))` = 4%
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