With a given rate of simple interest, the ratio of principal and amount for a certain period of time is 4 : 5. After 3 years with the same rate of interest, the ratio of the principal and amount becomes 5 : 7. The rate of interest is = ?
A. 4%
B. 6%
C. 5%
D. 7%
Answer: Option C
Solution(By Examveda Team)
$$\eqalign{ & \frac{{{\text{Principal}}}}{{{\text{Amount}}}} = \frac{{4 \times 5}}{{5 \times 5}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{20}}{{25}} \cr & {\text{After three year}} \cr & \frac{{\text{P}}}{{\text{A}}} = \frac{{5 \times 4}}{{7 \times 4}} \cr & \,\,\,\,\,\,\,\, = \frac{{20}}{{28}} \cr & {\text{In three year S}}{\text{.I}}{\text{.}} \cr & = 28x - 25x \cr & = 3x \cr & \text{So, the required interest will be} \cr & 3x = \frac{{20x \times {\text{R}} \times 3}}{{100}} \cr & {\text{R}} = 5\% \cr} $$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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