• Numerical Ability - Interest
Question
A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:
 
  • A) 12 %
  • B) 13 %
  • C) 8 % 
  • D) 12.5 %
Solution
S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.
S.I. for 5 years= Rs. 3675
Principal = Rs. (9800 - 3675) = Rs. 6125 
Hence Rate = {(100 × 3675) / 6125 × 5} % = 12 %
S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.
S.I. for 5 years= Rs. 3675
Principal = Rs. (9800 - 3675) = Rs. 6125 
Hence Rate = {(100 × 3675) / 6125 × 5} % = 12 %
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