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      Question

      If Rs. 1,800 is invested and earns Rs. 270 as simple

      interest in 1 year and 6 months, find the rate of interest per annum.
      A 7.5% Correct Answer Incorrect Answer
      B 10% Correct Answer Incorrect Answer
      C 6.5% Correct Answer Incorrect Answer
      D 18% Correct Answer Incorrect Answer

      Solution

      ATQ,

      Let the rate of interest = ‘x%’ p.a.

      1 year and 6 months = 1 × 12 + 6 = 18 months

      We have,

      [1800 × x × (18/12)] ÷ 100 = 270

      ⇒ 27x = 270

      ⇒ x = 270 ÷ 27 = 10

      So, rate of interest = 10%

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