Question

The sum becomes two and half times itself in 5 years at simple interest. What is the
rate of interest per annum ?
a) 25 %
b) 30%
c) 20%
d) 35%​

Answer 1

Question :- The sum becomes two and half times itself in 5 years at simple interest. What is the rate of interest per annum ?

Formula used :-

• {(Times - 1)/Time in years} * 100

Solution :-

From given data we have ,

→ Sum becomes = 2.5 times = Times

→ Time in years = 5

Putting value in above told formula we get,

→ {(2.5 - 1)/5} * 100

→ (1.5/5) * 100

→ 0.3 * 100

→ 30% (B) (Ans.)

Hence, Required rate of interest is 30% per annum.