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Question

The simple interest accrued in five years on a principal of Rs. 50,000 is one – tenth of the principal. What is the rate of simple interest pa?

A 2% Correct Answer Incorrect Answer
B 1.5% Correct Answer Incorrect Answer
C 4% Correct Answer Incorrect Answer
D 2.75% Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Principal = Rs. 50,000 Simple Interest = 1/10 × 50,000 = Rs. 5,000 Time = 5 years Rate = (SI × 100)/(P × T) = (5000 ×100)/(50000 ×5) = 2%

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