What is the rate of simple interest for the first 4 years if the sum of Rs. 360 becomes Rs. 540 in 9 years and the rate of interest for the last 5 years is 6%?
A. 4%
B. 5%
C. 3%
D. 6%
E. 3.5%
Answer: Option B
Solution(By Examveda Team)
$$\eqalign{ & {\text{Interest}}\,{\text{for}}\,{\text{the}}\,{\text{last}}\,{\text{5}}\,{\text{years}} \cr & = \frac{{PTR}}{{100}} \cr & = \frac{{360 \times 5 \times 6}}{{100}} = Rs.\,108 \cr & {\text{Interest}}\,{\text{for}}\,{\text{year}} = 540 - 360 = 180 \cr & {\text{So,}}\,{\text{interest}}\,{\text{for}}\,{\text{first}}\,{\text{four}}\,{\text{years}} \cr & = 180 - 108 = Rs.\,72; \cr & {\text{Now,}}\,{\text{rate}}\,{\text{for}}\,{\text{first}}\,{\text{four}}\,{\text{years}} \cr & = \frac{{ {72 \times 100} }}{{360 \times 4}} \cr & = 5\% \cr} $$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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