📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      If Rs. 12,500 is invested at simple interest for 2.5

      years and the total amount becomes Rs. 15,625, what is the rate of interest per annum?
      A 25 Correct Answer Incorrect Answer
      B 15 Correct Answer Incorrect Answer
      C 10 Correct Answer Incorrect Answer
      D 21 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Interest earned = 15,625 - 12,500 = Rs. 3,125

      Simple interest = (Principal × Rate × Time) ÷ 100

      So, 3,125 = (12,500 × r × 2.5) ÷ 100

      Or, 3,125 = 312.5 × r

      Or, r = 3,125 ÷ 312.5 = 10

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question