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?
A. 6%
B. 8%
C. 9%
D. 10%
Answer: Option B
Solution(By Examveda Team)
$$\eqalign{ & {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{. 840}} \cr & {\text{R}} = {\text{5}}\% \cr & {\text{T}} = 8\,{\text{years}} \cr & {\text{Principal}} \cr & = {\text{Rs}}{\text{. }}\left( {\frac{{100 \times 840}}{{5 \times 8}}} \right) \cr & = {\text{Rs}}{\text{.}}\,2100 \cr & {\text{Now,}} \cr & {\text{P}} = {\text{Rs}}{\text{.}}\,2100 \cr & {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{.}}\,{\text{840}} \cr & {\text{T}} = {\text{5 years}}{\text{}} \cr & \therefore {\text{Rate}} \cr & = \left( {\frac{{100 \times 840}}{{2100 \times 5}}} \right)\% \cr & = {\text{8}}\% \cr} $$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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