Question

At what rate, Rs. 1600 gives Rs.320 as simple interest in 2 years

Answer 1

Answer:

A sum of 1600 Rs. gives a simple interest of 252 Rs. in 2 years and 3 months. The rate of the interest per annum is :

[A]8\%

[B]6\%

[C]7\%

[D]5\frac{1}{2}\%

7\%

Principal = 1600 Rs.

T = 2 years 3 months

= \left ( 2+\frac{3}{12} \right )yrs. = \left ( 2+\frac{1}{4} \right )yrs. = \frac{9}{4}yrs.

S.I = 252 Rs.

R = % rate of interest per annum

=> R = \frac{100\times S.I.}{P\times t}

= \frac{100 \times 252}{1600 \times \frac{9}{4}} = 7\%

Rate of interest = 7% per annum

Hence option [C] is the right answer.

Step-by-step explanation:

hope it helps you