Question

2 points
A sum of money amounts to
Rs.9800/- after 5 years and Rs
12005/- after 8 years at the
same rate of simple
interest. What is the rate of
interest per annum? *
O 15%
O 10%
O 12%
O 8%​

Answer 1

Answer:

In 1st case,it will be P×R×5/100=9800-P

or,R=20(9800-P)/P

In 2nd case,it will beP×R×8/100=(12005-P)

or,R=25(12005-P)/2P

As, the rate is the same for both cases,we can say that 20(9800-P)/P=25(12005-P)/2P

=> 196000-20P/P=300125-25P/2P

=> 196000-20P=300125-25P/2

=> 392000-40P=300125-25P

=> 392000-300125=(40-25)P

=> 91875=15P

=> P=91875/15

=> P=6125

So,R=20(9800-P)/P=20(9800-6125)/6125

=20×3675/6125=20×21/37=11 13/37