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
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%