Question : A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is:
Option 1: $2\frac{1}{2}$%
Option 2: $4$%
Option 3: $5$%
Option 4: $6\frac{2}{3}$%
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Correct Answer: $5$%
Solution : Given: A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. So, Simple interest for 1 year = 840 − 800 = Rs.40 Simple interest =$\frac{\text{Principal×Rate×Time}}{100}$ Rate = $\frac{40×100}{800×1}=5$% Hence, the correct answer is $5$%.
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Question : If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years and 6 months, at the same rate of simple interest per annum, the rate of simple interest is:
Question : The simple interest on a sum of money is $\frac{8}{25}$ of the sum. If the number of years is numerically half of the rate percent per annum, then the rate percent per annum is:
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