At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years ? · ABC26GN4057

Subject: General Aptitude · Chapter: Simple Interest

At what rate percent per annum will the simple interest on a sum of money be $\frac{2}{5}$ of the amount in 10 years ?

(a)4\%

(b)$5 \frac{2}{3} \%$

(c)6\%

(d)$6 \frac{2}{3} \%$

Answer

Answer (as printed): A

Explanation

Let sum $=x$. Then, S.I. $=\frac{2 x}{5}$, Time = 10 years. ∴ $\quad$ Rate $=\left(\frac{100 \times 2 x}{x \times 5 \times 10}\right) \%=4 \%$.

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

Study loop for Simple Interest