Question

At simple interest, a certain sum of money amounts to ₹1.250 in 2 years and to ₹2,000 in 5 years. Find the rate of interest per annum (rounded off to two places of decimal).

• A. 33.33%
• B. 16.67%
• C. 27.27%
• D. 11.11%

Answer 1

Answer:

A. 33.33%

for 2 years amount =1250

for 5years amount = 2000

the interest btw the 3 years is 2000-1250=750

interest foe 1 year =750/3=250

interest for 2 year =2x250=500

for 2 year

P+500=1250

P=750

the percentage of interest=250/750=0.3333x100=33.33%