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      Question

      The simple interest on a sum of money is 7/20 of the

      sum. If the number of years is numerically half the rate per annum, then find the rate percent per annum.
      A 5.6% Correct Answer Incorrect Answer
      B 8.4% Correct Answer Incorrect Answer
      C 6.9% Correct Answer Incorrect Answer
      D 7.7% Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let P = 20 units and Simple Interest = 7 units T = R/2 SI = (P Ă— R Ă— T)/100 => 7 = (20 Ă— R Ă— R)/(100 Ă— 2) => R = 8.4%

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