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Simple Interest Practice Test 4
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© examsnet.com
Question : 18
Total: 26
A sum of money amounts to Rs. 1150 in 3 years and to Rs. 1250 in 5 years at a certain rate per cent p.a. simple interest. The rate per cent p.a. will be :
5%
8%
7%
6%
Validate
Solution:
Here, Simple interest for 2 years = Rs. 1250 – Rs. 1150 = Rs. 100
∴ Simple interest for 3 years
=
100
×
3
2
= Rs. 150
Hence, P = Rs. 1150 – Rs. 150 = Rs. 1000
∴ Rate
=
50
×
100
1000
×
1
=
5
%
© examsnet.com
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