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      Question

      A invests a sum at 8% simple interest. After 5 years the

      amount becomes 1.4 times the principal. Find the rate of interest used.
      A 10% Correct Answer Incorrect Answer
      B 12% Correct Answer Incorrect Answer
      C 8% Correct Answer Incorrect Answer
      D 18% Correct Answer Incorrect Answer

      Solution

      ATQ,

      Amount = P(1 + rt/100) 1.4P = P(1 + 5r/100) 1.4 = 1 + 5r/100 0.4 = 5r/100 r = 8%

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