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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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