App Logo

No.1 PSC Learning App

1M+ Downloads
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%


Related Questions:

A sum becomes Rs. 34400 in 6 years on simple interest at the rate of 12 percent per annum. What is the total interest for the 6 years?

Money was lent on simple interest. After 12 years, its simple interest becomes 35\frac{3}{5} of the money. Find the rate of interest.

Rahul takes loan of Rs.25000 and repays an amount of Rs.31000 at the end of 2 years. What is the rate of simple interest at which he repays the loan?
In how many years will a sum of money become sixteen times itself at 30% p.a. simple interest?
Find the simple interest on ₹2,000 at 8.25% per annum for the period from7 February 2022 to 20 April 2022.