general math MCQ #1082

A sum of money amounts to Rs 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

general math MCQ #1082

  1. Question 1

    Q1. A sum of money amounts to Rs 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

    • A) 5%
    • B) 8%
    • C) 12%
    • D) 15%

    Answer: 12%

    Explanation: Interest over 3 years = Rs. 2205; principal = Rs. 6125; rate = 2205×100/(6125×3) = 12% per annum.