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If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years 6 months at the same rate of simple interest per annum, then the rate of simple interest is
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21 3 % 7 -
21 2 % 7 -
21 1 % 7 -
21 5 % 7
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Correct Option: A
According to the question,
S.I. for 2 years 6 months = Rs. (5500 – 4000)
| ⇒ S.I. for | years = Rs. 1500 | |
| 2 |
| ∴ S.I. for 1 year = | = Rs. 600 | |
| 5 |
∴ S.I. for 2 years = Rs. 1200
∴ Principal = Amount - SI = Rs. (4000 – 1200) = Rs. 2800
| ∴ Rate = | |
| Principal × Time |
| Rate = | = | ||
| 2800 × 2 | 7 |
| Rate = 21 | % per annum. | |
| 7 |
