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Q.
A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is ?
A.
45/7 %
B.
50/9 %
C.
51/7 %
D.
47/ 9 %
View Answer
Correct choice: B
Explanation:
Let sum = S. Then, amount = 7S/6 S.I. = 7S/6 - S = S/6; Time = 3 years. Rate = (100 x S) / (S x 6 x 3) = 5 5/9 = 50/9 %.
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