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Test Index
Simple Interest Practice Test 4
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© examsnet.com
Question : 3
Total: 26
A person deposited Rs 500 for 4 years and Rs 600 for 3 years at the same rate of simple interest in a bank. Altogether, he received Rs 190 as interest. The rate of simple interest per annum was:
4%
5%
2%
3%
Validate
Solution:
Let the rate of interest = R
P = Rs 500
R = R
Time = 4 years
Also P = Rs 600
R = R
Time = 3 years
SI = Rs 190
190
=
500
×
4
×
R
100
+
600
×
3
×
R
100
190
=
20
R
+
18
R
38
R
=
190
R
=
190
38
=
5
%
© examsnet.com
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