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Home Aptitude Simple Interest See What Others Are Saying!
  • Question
  • On Rs. 3500 invested at a simple interest rate of 7 per cent per annum, Rs. 500 is obtained as interest in certain years. In order to earn Rs. 800 as interest on Rs. 4900 in the same number of years, what should be the rate of simple interest?


  • Options
  • A. 8%
  • B. 7.5%
  • C. 9%
  • D. 8.5%

  • Correct Answer
  • 8% 

    Explanation

    From the given data,

    3500x7xt/100 = 500

    => t = 100/49 years

    Now, in the second case

    The interest per year = 49/100 x 800 = 392

     => 4900 x 1 x r/100 = 392

    => r = 8%

  • Tags: AIEEE, Bank Exams, CAT, GATE, Analyst, Bank Clerk, Bank PO

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