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A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is :
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5 5 % 9 -
6 5 % 9 - 18%
- 25%
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Correct Option: A
Let Principal = P
| Amount = | ||
| 6 |
| S.I. = | - P = | ||
| 6 | 6 |
| ∴ R = | = | ||
| Principal × Time | 6 × P × 3 |
| R = | = 5 | % | ||
| 9 | 9 |
Second method to solve this question :
| R% = | |
| 3 |
| R = | × 100% | |
| 18 |
| R = | % | |
| 9 |
| R = 5 | % | |
| 9 |
