A. 12 2\3% B. 11 3\5% C. 11 2\3% D. 12 3\5% Let 100 was the Sum. Amount = 400. Interest = 300. R = 5%. Time = T (Let). Interest = PTR/100 = (100
*T *5)/100. 500T /100 = 300 5T = 300 T = 60 years. Now for second case, Let rate = r. Time = 60 years. Amount = 800. Interest = 700.In a certain time a sum becomes 4 times as the rate of 5% per annum. At what rate of simple interest the same sum becomes 8 times in the same duration?
Solution(By Examveda Team)
Now,
I = PTr/100
700 = 100*60 *r/100
60r = 700
r = 70/6 = 11.66%.
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A sum of money becomes 8 / 5 of itself in 5 years at a certain rate of simple interest .find the rate of interest.
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Solution
Given: Time, T=5 years
Let the principal be P
Rate of interest =R
Amount, A=8P5
Simple Interest,
S.I= Amount − Principal
=8P5−P
=3P5
∴S.I=3P5
Again,
S.I=P×R×T100
⇒3P5=P×R×5100
⇒35=5R100
⇒35=R20
⇒R=3×205
⇒R=3×4
∴R=12.
The required rate of interest is 12%.
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