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Simple interest

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  1. If the ratio of principal and the simple interest for 5 years is 10 : 3, then the rate of interest is :
    1. 5%
    2. 6%
    3. 8%
    4. 3%
Correct Option: B

According to question ,

Principal
 =
10
Interest3

⇒
Interest
 =
3
Principal10

∴ Rate =
Simple Interest × 100
Principal × Time

Rate =
3
 ×
100
 = 6% per annum
105


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