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
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 B
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Answer : Option B
Explanation :
Simple Interest for 3 years = (Rs.12005 - Rs.9800) = Rs.2205
$MF#%\text{Simple Interest for 5 years = }\dfrac{2205}{3} \times 5 = \text{Rs.}3675$MF#%
Principal(P) = (Rs.9800 - Rs.3675) = Rs.6125
$MF#%\text{R = }\dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times 3675}{6125 \times 5}= 12\%$MF#%
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