Question

    If the ratio of the sum invested and simple interest

    received after 1 year is 20:11 respectively, then find the rate of interest.
    A 44% Correct Answer Incorrect Answer
    B 24% Correct Answer Incorrect Answer
    C 36% Correct Answer Incorrect Answer
    D 55% Correct Answer Incorrect Answer

    Solution

    Let the sum invested and simple interest received be Rs.20x and Rs.11x respectively. Let the rate of investment be r% p.a. Therefore, {(20x x 1 x r)/100} = 11x => r = 55%

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