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A sum of Rs. 2668 amounts to Rs. 4669 in 5yr at the rate of simple interest. Find the rate per cent.

A) 15.20%
B) 14.90%
C) 16%
D) 15%

Correct Answer:




D) 15%

Description for Correct answer:

Here, P = RS. 2668, T = 5yr, A = RS. 4669

We know that,

Amount (A) = Principal (P) + (Simple Interest)SI

4669 = 2668 + SI

=> SI = 4669 - 2668 = RS.2001

Again, SI = \( \Large \frac{P\times R\times T}{100} \)

2001 = \( \Large \frac{2668\times R\times 5}{100} \)

=> R=\( \Large \frac{2001\times 100}{2668\times5}=\frac{2001\times 5}{667} \)=15%

Part of solved Simple and compound interest questions and answers : >> Aptitude >> Simple and compound interest

Comments

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