if a sum of money becomes 4000 in 2 yrs and 5500 in 4 yrs 6 months at the same rate of simple interest per annum. Then the rate of simple interest is
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Correct answer: A
Explanation
The correct option is 1.
Amount in 2 years = 4000
amount in 4.5 years = 5500
interest received in 2.5 years= 5500 - 4000 = 1500
interest received in 1 year = 600
interest received in 2 years = 1200
amount = principal + interest
amount received in 2 years = principal + 1200
4000 - 1200 = 2800
principal = 2800
interest = 600
Rate of interest = 