Question
A sum of money amount 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
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S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205
S.I. for 5 years = Rs. `(2205/3 xx 5)` = Rs. 3675.
`:.` principal = Rs. (9800 - 3675) = Rs. 6125.
Hence ,rate = `((100 xx 3675)/(6125 xx 5))`% = 12%
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