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Discussion

  1. A sum of money at simple interest amount to Rs 1260 in 2 yr and Rs 1350 in 5 yr, then the rate percent per annum is ?
    1. 30%
    2. 10%
    3. 2.5%
    4. 5%
  1. Correct Option: C

    Simple in 3 year = Rs( 1350 - 1260) = Rs 90
    Simple in 2 year = (2/3) &time; 90= Rs 60
    Principal = Rs (1260 -60)= Rs 1200
    Rate, R= (100 x SI)/(P x T)= (100 x 60)/(1200 x 2)=60/24= 25 %
    where , SI= Simple Interest
    P= Principal
    T= Time


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