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Discussion

  1. A certain sum lent out at simple interest amounts to Rs 575 in 3 yr and to Rs 625 in 5 yr. Then the rate of interest is ?
    1. 3%
    2. 4%
    3. 5%
    4. 7%
  1. Correct Option: B

    Let the sum be Rs 'y' and , rate of interest = R%
    Simple Interest for 2 yr =Rs( 625 - 575 ) = Rs 50
    ∴ Sum of money, y=Rs( 575 - 75)= Rs 500

    ∴ R= [(100 x SI)/(Sum x Time)]
    =[(100x 75)/(500 x 3)]=5 %

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