Multiple Choice Questions on A sum becomes 5 times of itself on simple interest in 5 years What is the rate of interest ........ for IBPS(Clerical) Exam Preparation

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Multiple Choice Questions

A sum becomes 5 times of itself on simple interest in 5 years What is the rate of interest ........

Quantitative Aptitude(IBPS CL) Simple Interest
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    A sum becomes 5 times of itself on simple interest in 5 years. What is the rate of interest?

    100%

    Incorrect Answer

    80%

    Correct Answer

    40% 

    Incorrect Answer

    20%

    Incorrect Answer

    60%

    Incorrect Answer
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    Explanation:

    If principal amount = 100

    5 times in 5 year means total amount= 500

    Simple interest earned in 5 years= 400

    So the rate of interest= 400/5=80% 

    By: Munesh Kumari
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