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If a sum is invested at simple interest, then it becomes 5/2 of itself in 5 years. What is the annual rate of interest?

5117Medium DSSSB TGT Computer Science 0 replies 0 views
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If a sum is invested at simple interest, then it becomes 5/2 of itself in 5 years. What is the annual rate of interest?
  • A25 percent
  • B35 percent
  • C30 percent
  • D40 percent
Correct answer: C

Explanation

SI = 5/2 P − P = 3/2 P in 5 years, so rate = (3/2 × 100)/5 = 30% per annum.
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