Multiple Choice Questions on A sum of Rs 725 is lent in the beginning of a year at a certain rate of interest After 8 months a su........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum of Rs 725 is lent in the beginning of a year at a certain rate of interest After 8 months a su...........

Quantitative Aptitude ( CCS) Simple Interest
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    A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?

    2.5%
    Incorrect Answer
    3.46%
    Correct Answer
    4.25%
    Incorrect Answer

    3.5%

    Incorrect Answer
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    Explanation:

    Let rate of interest be r. New r =2r, n=1/3years(4month)
    (725*r*1)/100 + (362.5*2r*1)/100*3 = 33.50
    (2175+725)r=33.5*100*3
    2900r=10050
    R=3.46%.

    Hence, option 2 is the correct answer.

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