Question 139

If the ratio of principal and the simple interest of 5 years is 10 : 3, then the rate of interest is:

Solution

Let principal sum = Rs. 10 and simple interest = Rs. 3

Let rate of interest = $$r\%$$ and time period = 5 years

Simple interest = $$\frac{P\times R\times T}{100}$$

=> $$\frac{10\times r\times5}{100}=3$$

= $$\frac{r}{2}=3$$

=> $$r=3\times2=6\%$$

=> Ans - (A)

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