A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to

Question

A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350 in 5 years. The rate percent per annum is:

Options:

A . 2.5%

B . 3.75 %

C . 5 %

D . 7.5 %

Answer: Option A

S.I for 3 years = Rs. (1350-1260) = Rs. 90
S.I for 2 years = Rs (90/3 Ã— 2) = Rs. 60
Sum = Rs. (1260-60) = Rs. 1200
Rate = 6000/2400 = 2.5%

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