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The simple interest on a sum of money is 3/5 of the principal in 12 years. What is the rate of interest per annum?

A7%

B8%

C6%

D5%

Answer:

D. 5%

Read Explanation:

SI=P×R×T100SI=\frac{P\times R \times T}{100}

SI=35PSI=\frac35 P

35P=P×R×12100\frac35 P=\frac{P\times R \times 12}{100}

35=12R100\frac35=\frac{12R}{100}

100×35=12R100\times \frac35=12R

60=12R60=12R

R=6012=5R=\frac{60}{12}=5%


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