?
Deepak invested an amount of Rs. 21250 for 6 years. At what rate of simple interest will be obtain the total amount of Rs. 26350 at the end of 6 years?
Answer & Solution
Correct Answer:
Option
E
$$\eqalign{
& {\text{P}} = {\text{Rs}}{\text{.}}\,{\text{21250}} \cr
& {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{.}}\,\left( {{\text{26350}} - {\text{21250}}} \right) \cr
& \,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,5100 \cr
& {\text{T}} = {\text{6 years}} \cr
& \therefore {\text{Rate}} = \left( {\frac{{100 \times 5100}}{{{\text{21250}} \times {\text{6}}}}} \right)\% \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 4\% \cr} $$
Join the Discussion
Login to post a comment or share your explanation.
Login