The simple interest on a certain sum of money at the rate of 5% p.a.…

Question

The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs. 840. At what rate of interest the same account of interest can be received on the same sum after 5 years?

Accepted Answer

Option B. 8%. Answer & Solution Answer: Option B Solution: & S .I . = Rs . 840 & R = 5\% & T = 8\, years & Principal & = Rs . ( 100 × 8405 × 8 ) & = Rs .\,2100 & Now, & P = Rs .\,2100 & S .I . = Rs .\, 840 & T = 5 years & Rate & = ( 100 × 8402100 × 5 )\% & = 8\%