Simple Interest received by a person in 10 years on a principal of Rs 9500 is 130% of the principal. What is the rate of interest (in %) per annum?
Let the principal amount = Rs. $$100x$$
=> Simple interest = $$\frac{130}{100}\times100x=Rs.$$ $$130x$$
Let rate of interest = $$r\%$$ and time period = 10 years
=> $$S.I. = \frac{P \times r \times t}{100}$$
=> $$\frac{100x\times r\times10}{100}=130x$$
=> $$10r=130$$
=> $$r=\frac{130}{10}=13\%$$
=> Ans - (B)
Create a FREE account and get:
