70
A sum becomes Rs. 1392 in 2 years and Rs. 1488 in 3 years at simple interest. What is the rate (in percentage) of interest per annum?
- A8
- B10
- C12
- D8.5
Answer not set
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0
CCommunity
Let the rate of interest be r
Amount in 2 years = Rs. 1392
Amount in 3 years = Rs. 1488
Simple interest in one year = 1488 – 1392 = Rs. 96
Simple interest in two years = 2 × 96 = Rs. 192
Now,
Principle = Amount – Interest = 1392 – 192 = Rs. 1200
So, Simple interest = (1200 × 2 × r)/100 = 24r
According to the question,
⇒ 192 = 24r
∴ r = 8%
Amount in 2 years = Rs. 1392
Amount in 3 years = Rs. 1488
Simple interest in one year = 1488 – 1392 = Rs. 96
Simple interest in two years = 2 × 96 = Rs. 192
Now,
Principle = Amount – Interest = 1392 – 192 = Rs. 1200
So, Simple interest = (1200 × 2 × r)/100 = 24r
According to the question,
⇒ 192 = 24r
∴ r = 8%
0
CCommunity
Let the rate of interest be r
Amount in 2 years = Rs. 1392
Amount in 3 years = Rs. 1488
Simple interest in one year = 1488 – 1392 = Rs. 96
Simple interest in two years = 2 × 96 = Rs. 192
Now,
Principle = Amount – Interest = 1392 – 192 = Rs. 1200
So, Simple interest = (1200 × 2 × r)/100 = 24r
According to the question,
⇒ 192 = 24r
∴ r = 8%
Amount in 2 years = Rs. 1392
Amount in 3 years = Rs. 1488
Simple interest in one year = 1488 – 1392 = Rs. 96
Simple interest in two years = 2 × 96 = Rs. 192
Now,
Principle = Amount – Interest = 1392 – 192 = Rs. 1200
So, Simple interest = (1200 × 2 × r)/100 = 24r
According to the question,
⇒ 192 = 24r
∴ r = 8%