Mayank invested a certain sum of money in a simple interest bond that value grew to Rs 300 at the en...........

Quantitative Aptitude ( CCS) Simple Interest

Mayank invested a certain sum of money in a simple interest bond, that value grew to Rs. 300 at the end of 3 year and to Rs. 400 at the end of another 5 year. Then what was the rate of interest in which he invested his sum?

12%

12.5%

6.67%

8.33%

छोटे Courses बड़े Results

Master Simple Interest

Prepare through Micro-courses

Try Now

Explanation:

P*R*3/100 + P = 300 –(i)
P*R*8/100 + P = 400 –(ii)
From (i) and (ii)
P*R*5/100 = 100
P*R = 2000—(iii)
Sub (iii) in (i)
6000/100 + P = 300
P = 240
240*R = 2000 => R = 8.33%