Question

1.If the simple interest on Rs. 1120 for
2 years is Rs.8000/-, what is the rate of
interest percent per annum?
A) 4%
B) 7%
C) 8%
D) 5%

Answer 1

rate of interest % per annum is 7%

Answer 2

The given question has been typed wrong and needs to be corrected as:

If the simple interest is Rs. 1120 for

2 years on Rs.8000/-, what is the rate of

interest percent per annum?

Answer:

The rate of interest is 7℅.

Step-by-step explanation:

The basic amount is given as Rs.8000

Time= 2 years

Simple interest = Rs. 1120

Simple interest= (Sum* Time* Rate)/100

So, Rate= (Simple interest *100)/ (Sum*Time)

So, Rate=( 1120*100)/ ( 8000*2)

So, Rate = 7℅.

Therefore, the rate per annum is 7℅.

[ If we consider the sum as Rs.1120 and interest as Rs.8000( as given in the question), we get rate ℅ greater than 100 which is incorrect].