The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is ₹ 840. At what rate of… · ABC26GN4029

Subject: General Aptitude · Chapter: Simple Interest

The simple interest on a certain sum of money at the rate of 5\% p.a. for 8 years is ₹ 840. At what rate of interest the same amount of interest can be received on the same sum after 5 years ?

(a)6\%

(b)8\%

(c)9\%

(d)10\%

Answer

Answer (as printed): B

Explanation

S.I. $=₹ 840, R=5 \%, T=8$ years. Principal $=₹\left(\frac{100 \times 840}{5 \times 8}\right)=₹ 2100$. Now, $P=₹ 2100$, S.I. $=₹ 840, T=5$ years. ∴ $\quad$ Rate $=\left(\frac{100 \times 840}{2100 \times 5}\right) \%=8 \%$.

Explanation as extracted from the printed page; notation may be imperfect.

Study loop for Simple Interest

1. Practise the PYQsPrevious-year questions, with answers

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