UP TGT Mathematics Commercial mathematics Test Series - Part 2
A sum of money invested at simple interest amounts to Rs. 800 in 3 years and to Rs. 1,000 in 5 years. Find the rate of i...
Type: MCQ • Marks: 1
A sum of money invested at simple interest amounts to Rs. 800 in 3 years and to Rs. 1,000 in 5 years. Find the rate of interest per annum.
Options
A. 1) 12.5%
B. 2) 20%
C. 3) 15%
D. 4) 16.67%
Explanation
SI for 2 years = 1000 - 800 = Rs. 200 => SI for 1 year = Rs. 100.
SI for 3 years = 300 => Principal = 800 - 300 = Rs. 500.
Rate = (100 / 500) * 100 = 20%... Wait, let's recheck: SI per year = 100, P = 500. Rate = (100 / 500)*100 = 20%. Correct Option: 20%.
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