What sum will amount to Rs. 7000 in 5 years at $${\text{3}}\frac{1}{3}$$ % simple interest ?
A. Rs. 6300
B. Rs. 6500
C. Rs. 6000
D. Rs. 5000
Answer: Option C
Solution (By Examveda Team)
$$\eqalign{ & {\text{Amount Rs 7000}} \cr & {\text{Total interest in 5 years}} \cr & {\text{ = 5}} \times \frac{{10}}{3}\% = \frac{{50}}{3}\% = \frac{1}{6} \cr} $$| Principal | Amount |
| 6 | (6 + 1) |
| ↓ × 1000 | ↓ × 1000 |
| 6000 | 7000 |
This Question Belongs to Arithmetic Ability >> Interest
what is the rate of interest if Rs 5000 amounts to Rs 6500 in three years (a)4% (b)8% (c)6% (d)10%