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      Question

      The simple interest on a sum of money is 2/5 of the sum.

      If the number of years is numerically half the rate per annum, then find the rate percent per annum.
      A 6.9% Correct Answer Incorrect Answer
      B 11.8% Correct Answer Incorrect Answer
      C 8.9% Correct Answer Incorrect Answer
      D 9.5% Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let P = 5 units and Simple Interest = 2 units T = R/2 SI = (P × R × T)/100 => 2 = (5 × R × R)/(100 × 2) => R = 8.9%

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