A certain sum of money at certain rate of interest becomes Rs 3420 after 2 years and at same rate af...........

Quantitative Aptitude ( CCS) Simple Interest

A certain sum of money at certain rate of interest becomes Rs 3420 after 2 years and at same rate after two and a half years becomes Rs 3525. Find the rate percent per annum.

8.5%

10%

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Explanation:

Amount after 2.5 yrs = 3525, after 2 yrs = 3420
So SI for half yr = 3525-3420 = 105, so for 1 yr SI = 105*2 = 210
P + 2*SI = 3420
So P = 3420 – 2*210 = 3000
So 3000*r*2/100 = 420
r=420*100/2*3000 = 7%