A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350 in 5 years. The rate per cent per annum is?

2.5%
3.75%
5%
7.5%

Correct Answer: 2.5%

Explanation:

S.I for 3 years = Rs. (1350 - 1260) = Rs. 90
S.I for 2 years = Rs.(90/3) x 2 = Rs . 60
∴ Sum = Rs. (1260 - 60) = Rs. 1200
∴ Rate = (100 x SI) / (P x T) = (100 x 60) / (1200 x 2) = 2.5%

More Questions from Simple Interest

A lent Rs. 600 to B for 2 years and Rs. 150 to C for 4 years and received altogether from both Rs. 90 as simple interest. The rate of interest is?
Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3% It would amount to how much?
The simple interest on a sum of money at 8% per annum for 6 years is half the sum. The sum is?
If the interest on Rs. 1200 be more than the interest on Rs. 1000 by Rs. 50 in 3 years, the rate per cent is?
In how many years will a sum of money double itself at 12% per annum?
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 1% higher rate, it would have fetched Rs. 24 more, The sum is?
A sum money becomes (8/5) of itself in 5 years at a certain rate of interest . The rate percent per annum is?
The difference between the interest received from two different bank on Rs. 500 for 2 year is Rs. 2.50. The difference between their rates is?
A certain sum of money at simple interest amounts to Rs. 1012 in 2 1/ 2 years and to Rs. 1067.20 in 4 years. The rate of interest per annum is?
Two equal amounts of money are deposited in two banks, each at 15% per annum for 3 1/ 2 years and 5 years. If the difference between their interests is Rs. 144, each sum is?

Discussion & Comments

No comments yet. Be the first to comment!