A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after…

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:

Accepted Answer

Option C. 12%. Answer & Solution Answer: Option C Solution: & S .I . 1pt for 3 years & = Rs . ( 12005 - 9800 ) & = Rs . 2205 & S .I . for 5 years & = Rs .\, ( 22053 × 5 ) & = Rs .\,3675 & Principal & = Rs .\,(9800 - 3675) & = Rs .\,6125 & Hence,\, rate = ( 100 × 36756125 × 5 )\% & \,\,\,\,\,\,…