If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years 6 months at the same rate of simple interest per annum. Then the rate of simple interest is = ?
A. $${\text{21}}\frac{3}{7}$$ %
B. $${\text{21}}\frac{2}{7}$$ %
C. $${\text{21}}\frac{1}{7}$$ %
D. $${\text{21}}\frac{5}{7}$$ %
Answer: Option A
Solution(By Examveda Team)
$$\eqalign{ & {\text{S}}{\text{.I}}{\text{. of 2}}{\text{.5 years}} \cr & {\text{ = 5500}} - {\text{4000}} \cr & {\text{ = 1500}} \cr & {\text{S}}{\text{.I}}{\text{. of 2 years}} \cr & {\text{ = }}\frac{{1500}}{{2.5}} \times {\text{2}} \cr & {\text{ = 1200}} \cr & {\text{So, Principal}} \cr & {\text{ = 4000}} - {\text{SI of 2 years}} \cr & \Rightarrow {\text{Principal = 4000}} - 1200 \cr & \Rightarrow {\text{Principal = 2800}} \cr & {\text{r}}\% {\text{ = }}\frac{{1200}}{{2800 \times 2}} \times {\text{100}} \cr & \,\,\,\,\,\,\,\,{\text{ = 21}}\frac{3}{7}\% \cr} $$Related Questions on Interest
Find the simple interest on Rs. 5200 for 2 years at 6% per annum.
A. Rs. 450
B. Rs. 524
C. Rs. 600
D. Rs. 624
Rs. 1200 is lent out at 5% per annum simple interest for 3 years. Find the amount after 3 years.
A. Rs. 1380
B. Rs. 1290
C. Rs. 1470
D. Rs.1200
E. Rs. 1240
Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.
A. 8%
B. 9%
C. 10%
D. 11%
E. 12%
Rs. 2100 is lent at compound interest of 5% per annum for 2 years. Find the amount after two years.
A. Rs. 2300
B. Rs. 2315.25
C. Rs. 2310
D. Rs. 2320
E. None of these
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