Question

A certain sum of money amounts to Rs. 600 in 2 year and Rs. 700 in 4 years at a
certain rate of simple interst. Find the rate of interest
1) 5%
2) 8%
37 10%
4) 16%
5) None​

Answer 1

Answer:

the increase in amount from year 2 to year 4 is 100

So the simple interest must have been 100,

using the formula, R = SI x 100/ P x T

here time is 4 - 2 = 2 years and principal is 600

So, R = 100 x 100/ 600 x 2 = 50/6 % or 25/3 %

Answer 2

OPTION 3) RATE %=10%

AMOUNT=P+I