A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350 in 5 years. The rate percent per annum is? A. 4.50 % B. 3.50 % C. 2.50 % D. 1.50 % Answer Workspace Report Discuss Answer with explanation Answer: Option C Explanation A certain sum of money at simple interest amounts to Rs.1260 in 2 years The same sum of money at simple interest amounts to Rs.1350 in 5 years Formula used: S.I = ( P × N × R)/100 Calculation: Let the Principal be P S.I for 3 years = 1350 – 1260 = Rs.90 ⇒ S.I for 1 year = 90/3 = Rs.30 ⇒ S.I for 2 years = 30 × 2 = Rs.60 ∴ Principal, P = 1260 – 60 = Rs.1200 Now, S.I = ( P × N × R)/100 60 = (1200 × 2 × R)/100 ∴ R = (60 × 100)/(1200 × 2) = 2.50% ∴ Rate of interest is 2.50% Workspace

MOHINI SHREE says August 31, 2021 at 10:07 pm A certain sum of money at simple interest amounts to Rs.1260 in 2 years The same sum of money at simple interest amounts to Rs.1350 in 5 years Formula used: S.I = ( P × N × R)/100 Calculation: Let the Principal be P S.I for 3 years = 1350 – 1260 = Rs.90 ⇒ S.I for 1 year = 90/3 = Rs.30 ⇒ S.I for 2 years = 30 × 2 = Rs.60 ∴ Principal, P = 1260 – 60 = Rs.1200 Now, S.I = ( P × N × R)/100 60 = (1200 × 2 × R)/100 ∴ R = (60 × 100)/(1200 × 2) = 2.50% ∴ Rate of interest is 2.50% Reply

MOHINI SHREE says

A certain sum of money at simple interest amounts to Rs.1260 in 2 years

The same sum of money at simple interest amounts to Rs.1350 in 5 years

Formula used:

S.I = ( P × N × R)/100

Calculation:

Let the Principal be P

S.I for 3 years = 1350 – 1260 = Rs.90

⇒ S.I for 1 year = 90/3 = Rs.30

⇒ S.I for 2 years = 30 × 2 = Rs.60

∴ Principal, P = 1260 – 60 = Rs.1200

Now,

S.I = ( P × N × R)/100

60 = (1200 × 2 × R)/100

∴ R = (60 × 100)/(1200 × 2) = 2.50%

∴ Rate of interest is 2.50%