ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    A person deposited a sum at simple interest. The amount

    after 5 years turned out to be (110/88) times of the amount he got in 3 years. Find 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 тАШr%тАЩ p.a.

    Let the amount after 3 years = Rs. тАШ88xтАЩ

    Then, amount after 5 years = (110/88) ├Ч 88x = Rs. тАШ110xтАЩ

    Interest in 2 years = 110x тАУ 88x = Rs. тАШ22xтАЩ

    Yearly interest = 22x / 2 = Rs. тАШ11xтАЩ

    Principal = 88x тАУ 11x ├Ч 3 = Rs. тАШ55xтАЩ

    ATQ,

    55x ├Ч (r / 100) ├Ч 1 = 11x

    r = (11x ├Ч 100) / 55x = 20

    The rate of interest = r = 20%

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question