ABC26GN4013 · Simple Interest
Subject: General Aptitude · Chapter: Simple Interest · Exam: · Marks: · Difficulty:
A sum of ₹ 1600 gives a simple interest of ₹ 252 in 2 years and 4 months. The rate of interest per annum is
(a)6\%
(b)$6 \frac{1}{4} \%$
(c)$6 \frac{1}{2} \%$
(d)$6 \frac{3}{4} \%$
Answer
Explanation
Time $=2$ years 4 months $=2 \frac{1}{3}$ years $=\frac{7}{3}$ years, $$\begin{aligned} & \text { S.I. }=₹ 252, P=₹ 1600 . \\ & \text { Rate }=\left(\frac{100 \times 252 \times 3}{1600 \times 7}\right) \%=6 \frac{3}{4} \% . \end{aligned}$$
Explanation as extracted from the printed page; notation may be imperfect.
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