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Q: At a certain rate of interest the compound interest of 3 years and simple interest of 5 years for certain sum of money is respectively Rs. 1513.2 and Rs. 2400. Find the common rate of interest per annum ?

  • 1
    5%
  • 2
    6%
  • 3
    4%
  • 4
    3%
  • Show Answer
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Answer : 1. "5%"
Explanation :

Answer: A) 5% Explanation: Given compound interest for 3 years = Rs. 1513.2   and simple interest for 5 years = Rs. 2400   Now, we know that  C.I = P1+R100n - 1   => 1513.2 = P1+R1003 - 1 ...........(A)   And S.I = PTR/100   => 2400 = P5R/100 ..................(B)   By solving (A) & (B), we get   R = 5%.

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