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Muhammad

بِسمِ اللَّهِ الرَّحمٰنِ الرَّحيمِ

From: Sahiwal Division

Registered: 2012-03-22

Posts: 22,197

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Find the rate of interest?

Mathematics Quizzes Interest

Question:
A sum of money becomes 7/4 of itself in 6 years at a certain rate of simple interest. Find the rate of interest.

Option A):
14%
Option B):
12%
Option C):
8%
Option D):
12(1/2)%

Correct Answer is Option D):
12(1/2)%

Explanation:
Let sum is Rs. 100 ,then it become 7/4 times i.e. Rs. 700/4 in 6 years.
Interest = (700/4)-100 = Rs. 300/4;
Hence, Rate = Total interest/ given time = 300/4*6 = 12(1/2)%.

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