Multiple Choice Questions on A man 500 for 2 years and 300 for 3 years at the same rate simple interest and required only Rs 190 ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A man 500 for 2 years and 300 for 3 years at the same rate simple interest and required only Rs 190 ...........

Quant (SSC) Simple Interest
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    A man 500 for 2 years and 300 for 3 years at the same rate simple interest and required only Rs. 190 as interest. What was the rate% p.a.?

    11%

    Incorrect Answer

    15%

    Incorrect Answer

    10%

    Correct Answer

    9%

    Incorrect Answer
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    Explanation:

    Let the rate be R%
    S.I. = 500 × R × 2 /100 + 300 × R × 3 /100 = 19R
    ∴   190 = 19R
    ⇒   R = 10%.

    By: Amit Kumar
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