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:
Answer: Option C
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S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.
S.I. for 5 years = Rs.
2205
x
3
5= Rs. 3675.
Principal = Rs. (9800 - 3675) = Rs. 6125
Hence, rate =
100 x 3675
6125 x 5
% = 12%
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