A sum becomes five times of it self in 8 years at simple interest. What is the rate of interest per annum?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 50%.
| Understanding/Application |
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Let initial sum = Rs.x , thus amount after 8 years = Rs. 5x S.I. = PRT/100 = 4x |
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Prt/100 = 4x 8xr/100 = 4x r = 400/8 = 50% |