Arithmetic Ability
Simple Interest

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Q.

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:

View Answer

Correct choice: C

Explanation:

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205. S.I. for 5 years = Rs.2205/3×5= Rs.3675 Principle = Rs.(9800-3675) = Rs.6125 Hence, Rate = [100×3675/6125×5]=12%
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