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This question belongs to Arithmetic Ability Interest
Interest
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If the ratio of principal and the simple interest of 5 years is 10 : 3, then the rate of interest is = ?

Answer & Solution
Correct Answer: Option A
$$\eqalign{ & \frac{{\text{P}}}{{{\text{S}}{\text{.I}}{\text{.}}}} = \frac{{10}}{3} \cr & {\text{Let Principal = 10}} \cr & {\text{S}}{\text{.I}}{\text{. for 5 years = 3}} \cr & {\text{S}}{\text{.I}}{\text{. for 1 year = 0}}{\text{.6}} \cr & {\text{Rate = }}\frac{{{\text{S}}{\text{.I}}{\text{.}}}}{{{\text{Principal}}}} \times 100 \cr & {\text{Rate = }}\frac{{0.6}}{{10}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\, = 6\% \cr} $$
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