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A sum of money becomes 77/50 of itself in 18/5 years when invested at simple interest. What is the rate (in percentage) of interest per annum?
- A20
- B18
- C12
- D15
Answer not set
Discussion 1
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CCommunity
Let money is Rs. P and rate is R%.
S.I. = Amount - Money = 77P/50 - P = 27P/50
⇒ 27P/50 = (P × R × 18)/(100 × 5)
∴ R = 30/2 = 15%
S.I. = Amount - Money = 77P/50 - P = 27P/50
⇒ 27P/50 = (P × R × 18)/(100 × 5)
∴ R = 30/2 = 15%