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    • Question

      An investment becomes 175% of the principal in 60 months at

      simple interest rate of ‘r%’ p.a. Find the rate of interest ‘r’.
      A 18 Correct Answer Incorrect Answer
      B 13 Correct Answer Incorrect Answer
      C 15 Correct Answer Incorrect Answer
      D 28 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Let the principal be Rs. ‘P’.

      ATQ,

      1.75P – P = (P × 60 × r)/(12 × 100)

      Or, 0.75P = Pr/20

      Or, r = 15.

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