Question

1. A sum of money at simple interest
amounts to * 1,012 in 2 and a half years and to
1,067.20 in 4 years. The rate of interest
per annum is
(A) 2.5%
(B) 3%
(C) 4%
(D) 5%​

Answer 1

amount increase in 1.5 years = 1067.2-1012 =55.2

amount increase in each year = 55.2*2/3 = 36.8 = each year si.

SI of first 2.5 years = 92

P = 1012-92 = 920

Rate = 36.8*100/920 = 4%