ABC26GN4060 · Simple Interest
Subject: General Aptitude · Chapter: Simple Interest · Exam: · Marks: · Difficulty:
A sum of money becomes $\frac{7}{6}$ of itself in 3 years at a certain rate of simple interest. The rate per annum is
(a)$5 \frac{5}{9} \%$
(b)$6 \frac{5}{9} \%$
(c)18\%
(d)25\%
Answer
Explanation
Let sum $=x$. Then, amount $=\frac{7 x}{6}$. $$\begin{aligned} & \text { S.I. }=\left(\frac{7 x}{6}-x\right)=\frac{x}{6} ; \text { Time }=3 \text { years. } \\ & \therefore \quad \text { Rate }=\left(\frac{100 \times x}{x \times 6 \times 3}\right) \%=\frac{50}{9} \%=5 \frac{5}{9} \% . \end{aligned}$$
Explanation as extracted from the printed page; notation may be imperfect.
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