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    Question

    An amount becomes seven times of itself in 48 years at

    simple interest. Find the value of (5R − 15), where R is the rate of interest per annum.
    A 70 Correct Answer Incorrect Answer
    B 30 Correct Answer Incorrect Answer
    C 40 Correct Answer Incorrect Answer
    D 50 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the amount invested be Rs. 'p'.
    Interest earned = 7p − p = Rs. 6p
    Simple interest = Principal × Rate × Time ÷ 100
    So, 6p = p × R × 48 ÷ 100
    Or, R = (6 × 100) ÷ 48 = 12.5
    Required value = 5 × 12.5 − 15 = 62.5 − 15 = 47.5

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