Join ExamsbookAnswer : 1. "5%"
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 ?5
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 ?
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- 26%false
- 34%false
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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%.