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A sum of money invested at simple interest becomes 17 10...

This question belongs to Arithmetic Ability Interest
Interest
?

A sum of money invested at simple interest becomes 17/10 of itself in 2 years and 6 months. What is the rate of interest per annum?

Answer & Solution
Correct Answer: Option C
$$\eqalign{ & {\text{S}}{\text{.I}}{\text{.}} = \frac{{P \times r \times t}}{{100}} \cr & 7 = \frac{{10 \times r \times 5}}{{2 \times 100}} \cr & r = 28\% \cr} $$
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