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    Question

    A sum of money invested at simple interest amounts to

    Rs. 16800 in 2 years and to Rs. 23100 in 9 years. What is the rate of simple interest per annum?
    A 6 percent Correct Answer Incorrect Answer
    B 5 percent Correct Answer Incorrect Answer
    C 7.5 percent Correct Answer Incorrect Answer
    D 8 percent Correct Answer Incorrect Answer

    Solution

    A sum of money invested at simple interest amounts to Rs. 16800 in 2 years and to Rs. 23100 in 9 years. What is the rate of simple interest per annum? ∴ Interst paid in 7 years = 23100 − 16800 = Rs. 6300 Annual Interest = 6300/7 = Rs.900 Sum lent at the begining = 16800 − 900 × 2 = Rs. 15000 Rate of simple Interest = (900/15000) × 100 = 6%

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