Question
A sum of money at some rate of simple interest amounts to Rs.2,900 in 8 years and to Rs.3,000 in 10 years. The rate of interest per annum is
Answer: Option C
Answer: (c)Principal + interest for 8 years= Rs.2900... (i)Principal + interest for 10 years = Rs.3000 ... (ii)Subtracting equation (i) from (ii)Interest for 2 years = Rs.100Interest for 8 years= $100/2 × 8$ = Rs.400From equation (i),Principal = Rs.(2900 - 400) = Rs.2500Rate = ${S.I × 100}/{\text"Time × Principal"}$= ${400 × 100}/{8 × 2500} = 2%$Using Rule 12,R = $({A_1 - A_2}/{A_2T_1 - A_1T_2})$ × 100= $({2900 - 3000}/{3000 × 8 - 2900 × 10})$ × 100=$({- 100}/{24000 - 29000}) × 100$= ${-100}/{-5000}$ × 100 = 2%
Was this answer helpful ?
Answer: (c)Principal + interest for 8 years= Rs.2900... (i)Principal + interest for 10 years = Rs.3000 ... (ii)Subtracting equation (i) from (ii)Interest for 2 years = Rs.100Interest for 8 years= $100/2 × 8$ = Rs.400From equation (i),Principal = Rs.(2900 - 400) = Rs.2500Rate = ${S.I × 100}/{\text"Time × Principal"}$= ${400 × 100}/{8 × 2500} = 2%$Using Rule 12,R = $({A_1 - A_2}/{A_2T_1 - A_1T_2})$ × 100= $({2900 - 3000}/{3000 × 8 - 2900 × 10})$ × 100=$({- 100}/{24000 - 29000}) × 100$= ${-100}/{-5000}$ × 100 = 2%
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution