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Simple interest

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  1. If the interest on Rs. 1200 be more than the interest on Rs. 1000 by Rs. 50 in 3 years, the rate per cent is ?
    1. 101/3%
    2. 62/3%
    3. 81/3%
    4. 92/3%
Correct Option: C

Let rate = R% per annum. Then,
(1200 x R x 3)/100 - (1000 x R x 3)/100 = 50
⇒ 6R = 50
⇒ R = 81/3
∴ Rate = 81/3% per annum


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