Discussion of Question with ID = 015 under Simple-Interest

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Question

Simple interest on a certain sum of money is $1/2$ of the sum for 20 years. What is the rate of interest?

A

2%.

B

3%.

C

5%.

D

4%.

Soln.
Ans: a

We know, I = PRT/100. If I = P/2, then $1/2$ = RT/100. So R = $100/{2 × 20}$ = 2%.


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