Deepak invested an amount of ₹ 21250 for 6 years. At what rate of simple interest will be obtain the total amount of ₹ 26350 at the end of 6 years?
Aptitude
Simple Interest
Difficulty: Medium
Choose an option
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A5 p.c.p.a
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B6 p.c.p.a
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C8 p.c.p.a
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D12 p.c.p.a
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ENone these
Answer
Correct Answer: None these
Explanation
### Concept & Simple Interest Rate Formula
To find the rate of interest ($R$) when Principal ($P$), Final Amount ($A$), and Time ($T$) are given, we first calculate the Simple Interest ($SI = A - P$).
The formula for the rate is:
$$R = \frac{SI \times 100}{P \times T}$$
### Step-by-Step Solution
* Given Principal, $P = \text{₹ } 21250$
* Given Final Amount, $A = \text{₹ } 26350$
* Given Time, $T = 6 \text{ years}$
* First, determine the Simple Interest earned over 6 years:
$SI = 26350 - 21250 = \text{₹ } 5100$
* Next, calculate the Rate:
$R = \frac{5100 \times 100}{21250 \times 6}$
$R = \frac{510000}{127500} = 4\%$ p.a.
### Exam Strategy & Shortcut
Instead of large multiplication, cancel out zeros and simplify step-by-step:
$R = \frac{5100}{212.5 \times 6} = \frac{850}{212.5} = 4\%$. Since $4\%$ is not listed among the explicit options, select "None these".
### Common Pitfall
A common mistake is assuming the given Amount ($26350$) is the Interest, which would yield an impossibly high rate. Always double-check what the values represent.
### Final Answer
Therefore, the correct answer is **None these**.