Multiple Choice Questions on A sum of money amounts to Rs 9800 after 5 years and Rs 12005 after 8 years at the same rate of simpl........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum of money amounts to Rs 9800 after 5 years and Rs 12005 after 8 years at the same rate of simpl...........

Quant (SSC) Simple Interest
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    A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

    5%

    Incorrect Answer

    8%

    Incorrect Answer

    12%

    Correct Answer

    15%

    Incorrect Answer
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    Explanation:

    S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.
    S.I. for 5 years = Rs.22053×5= Rs.3675
    Principle = Rs.(9800-3675) = Rs.6125
    Hence, Rate = [100×3675/6125×5] =12%

    By: MIRZA SADDAM HUSSAIN
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