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      Question

      A certain amount was deposited at a fixed rate of simple

      interest per annum. The amount after 6 years became (105/84) times the amount it had become in 4 years. What is the rate of interest?
      A 20% Correct Answer Incorrect Answer
      B 18% Correct Answer Incorrect Answer
      C 25% Correct Answer Incorrect Answer
      D 32% Correct Answer Incorrect Answer

      Solution

      ATQ,

      Let the rate of interest be ‘r%’ p.a.

      Let the amount received after 4 years be Rs. ‘84x’.

      So, the amount after 6 years = (105/84) × 84x = Rs. ‘105x’

      Interest received in 2 years = 105x – 84x = Rs. ‘21x’

      So, the yearly interest = (21x / 2) = Rs. ‘10.5x’

      So, the sum invested = 84x – 10.5x × 4 = Rs. ‘42x’

      ATQ,

      42x × (r / 100) × 1 = 10.5x

      So, r = 25

      The rate of interest = r = 25%

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