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    Question

    In 2013, the amount becomes Rs 28,700 after 8 years,

    find the rate of interest.
    A 11% Correct Answer Incorrect Answer
    B 9% Correct Answer Incorrect Answer
    C 12.5% Correct Answer Incorrect Answer
    D 8% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Interest after 1 year = Rs 1400, so after 8 years = 1400 × 8 = Rs 11200 So Principal + interest of 8 years = 28700 So Principal = 28700-8400 = Rs 17,500 Now 17500 × r × 1/100 = 1400 rate = 8%

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