1. A sum of money invested at simple interest becomes $$\frac{13}{10}$$ of itself in 2 years and 6 months. What is the rate (in percentage) of interest per annum?
Write Comment
Comments
By: anil on 05 May 2019 03.00 pm
Let sum of money invested = Rs. $$100x$$ => Amount under simple interest = $$frac{13}{10} imes100x=Rs.$$ $$130x$$ Thus, simple interest = $$130x-100x=Rs.$$ $$30x$$ Let rate of interest = $$r\%$$ and time period = 2.5 years => Simple interest = $$frac{P imes R imes T}{100}$$
=> $$frac{100x imes r imes2.5}{100}=30x$$ => $$2.5r=30$$ => $$r=frac{30}{2.5}=12\%$$ => Ans - (C)
Terms And Service:We do not guarantee the accuracy of available data ..We Provide Information On Public Data.. Please consult an expert before using this data for commercial or personal use
=> $$frac{100x imes r imes2.5}{100}=30x$$ => $$2.5r=30$$ => $$r=frac{30}{2.5}=12\%$$ => Ans - (C)