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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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