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    Question

    A person borrowed some money on simple interest. After 3

    years, he returned 4/3 of the money to the lender. What was the rate of interest? 
    A 11(2/9)% p.a Correct Answer Incorrect Answer
    B 11(3/9)% p.a Correct Answer Incorrect Answer
    C 11(4/9)% p.a Correct Answer Incorrect Answer
    D 11(1/9)% p.a Correct Answer Incorrect Answer

    Solution

    Let the amount borrowed be P, The amount returned by the person = 4P/3 Extra money he returned = Interest = (4P/3 -P) Interest = P/3 By using the formula of Simple interest, ( P×R×T)/100= P/3 R ×T = 100/3 Putting the value of T, T = 3 Rx 3 = 100/3 R = 100/9 R =11(1/9)%

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