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Solution
Given, P = ₹ 9000, A = ₹ 18000 and T = 8 yr
As we know, A = P + I
⇒I=A−P=18000−9000
I= ₹ 9000
Now, I=P×R×T100⇒R=I×100P×T=9000×1009000×8
R = 12.5 %
Hence, the rate of interest per annum is 12.5 %.
In how much time will Rs. 9000 amount to Rs. 13500 at simple interest at the rate of 5% per annum?
This question was previously asked in
SSC MTS Previous Year Paper 61 (Held On : 10-Oct-2017 Shift 3)
View all SSC MTS Papers >
- 15 years
- 10 years
- 12 years
- 13 years
Answer (Detailed Solution Below)
Option 2 : 10 years
Free
RRB ALP 2018 Full Test (Stage II - Part A)
100 Questions 100 Marks 90 Mins
Let the time in years be ‘t’
Simple interest = (P × r × t)/100,
where
P = principal,
t = time period and
r = rate of interest.
⇒ 4500 = (9000 × 5 × t)/100
⇒ 4500 = 450t
∴ t = 4500/450 = 10 years
Last updated on Sep 22, 2022
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