Multiple Choice Questions on A sum of Rs 880 becomes Rs 1557 60 in 7 years What is the rate of interest per annum ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum of Rs 880 becomes Rs 1557 60 in 7 years What is the rate of interest per annum ........

Quant (SSC) Simple Interest
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    A sum of Rs. 880 becomes Rs. 1557.60 in 7 years. What is the rate of interest per annum ?

    9%

    Incorrect Answer

    10%

    Incorrect Answer

    11%

    Correct Answer

    12%

    Incorrect Answer
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    Explanation:

    Amount = 1557.60; Principal = 880; T = 9 years
    SI = Amount – Principal
    = 1557.60 – 880 = 677.60
    ∴  R = SI x 100 / P x T
    = 667.60 × 100 /880 x 7
    = 11% per annum

    By: Amit Kumar
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