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    Question

    A certain amount becomes Rs. 7,680 in 6 years and Rs.

    9,120 in 9 years on simple interest. Determine the rate of interest per year.
    A 12% Correct Answer Incorrect Answer
    B 32% Correct Answer Incorrect Answer
    C 10% Correct Answer Incorrect Answer
    D 18% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Interest earned in 3 years = 9,120 - 7,680 = Rs. 1,440 Interest earned in 1 year = 1,440 / 3 = Rs. 480 Interest earned in 6 years = 6 × 480 = Rs. 2,880 Principal amount = 7,680 - 2,880 = Rs. 4,800 Rate of interest = (480 / 4800) × 100 = 10% p.a.

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